The textile and garment industry aims to achieve export value growth at 8-10 percent to a total of over 40 billion VND and an industrial production value growth at 5 percent, according to the Vietnam Textile and Garment Corporation (Vinatex). Firms will target markets under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) with export turnover of over 5.3 billion USD. Of which, export value to Japan is more than 4 billion USD while the export value to Canada and Australia markets is expected to double to 1 billion USD each, said Le Tien Truong, Vinatex general director. For the EU market, if the European Union-Vietnam Free Trade Agreement (EVFTA) comes into effect this year, it will help increase total export revenue by 4 billion USD, contributing to raising total export value to over 40 billion USD, Truong said. Vinatex expects growth of 5-7 percent year-on-year in its export value this year and 12 percent in profit, according to Truong. Those results will help realise its target of being one of the top 10 biggest listed companies on Vietnam's stock market. Besides advantages from those FTAs, Cao Huu Hieu, Vinatex managing director, said this year will see more challenges… Read full this story
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