(VOVWORLD) - Vietnam’s textile and garment exports are recovering, especially in traditional markets. Experts say the orders are returning to Vietnam because Vietnam is a safe destination and a new driving force of the global economy.
 Vietnam ranks third in the world for textile and garment exports. (photo: VOV) |
Many Vietnamese textile and garment enterprises said that their exports in the first quarter grew 10-15% and orders have been signed for the second and third quarters.
Saigon 3 Garment Joint Stock Company reported that it has orders until June. Le Tien Truong, Chairman of the Board of Directors of Vietnam Textile and Garment Group, said many member businesses have received orders until June and many customers are negotiating new contracts.
Than Duc Viet, General Director of Garment 10 Corporation, said that in the first quarter its revenue was 15% more than in the same period last year. It has many orders until the third quarter. Thanh Cong Textile-Investment-Trading Company set a revenue target of 100 million USD this year.
Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (VITAS), said that the market has rebounded with many more orders. The sector’s plan to earn 44 billion USD from exports this year is very possible. The latest customs data shows that in Q1 export turnover in the textile sector totaled 9.5 billion USD, 9.62% higher than in the same period last year.
VITAS said that, since the beginning of the year, global textile and garment companies and supply chains continue to choose Vietnam to place orders. Vietnam ranks third in the world for textile and garment exports.