On 11/12/2017, in TP. HCM City, Vietnam Textile and Apparel Association to hold a press conference on textile and garment industry in 2017 and solutions for 2018.

At the meeting, Vietnam Textile and Apparel Association (Vitas) Chairman Vu Duc Giang said that the ODM rate (designed on the idea of availability, production) of the textile and apparel industry rose from 3% in 2016 to 7% in 2017. This year the industry estimates a $ 15 billion export surplus. With this surplus value, textile and garment industry becomes the largest export surplus in 2017.

Textile and garment industry aims to increase export turnover to 33.5 - 34 billion USD in 2018. Photo: Tan Thanh

According to Vitas, despite the many challenges faced by the TPP, the impact of the recent TPP trade surpluses has seriously affected the export and import situation since late 2016 and early 2017. Positive changes, total export turnover of the whole industry is expected to reach over US $ 31 billion, up 10.23% over the same period in 2016. Of which, exports of textiles and garments reached 25.91 billion US dollars, up 8 , 7% in comparison with 2016, exports of textile fibers amounted to $ 3.51 billion, up 19.93% in value over the same period of 2016 ... Total import value of garment and textile materials was estimated at $ 18.91 billion, increased by 11.43% compared to 2016.

During the year, enterprises of the sector actively sought the policy should not be greatly affected by the US withdrawal from the TPP. Apart from the main export markets, such as USA, Europe, Japan ..., some new markets have been exploited, notably some enterprises started to export products to China. "Over the years, Vietnam's garment and textile materials have come mainly from China, but we have exported yarn, fabrics and jackets and shirts to China. "said Giang.

Vitas representatives see Russian partners return to business with Vietnam due to the difficult payment by trading through Vietnam - Russia Joint Venture Bank. Many corporations such as Nha Be Garment, Duc Duc Garment ... have opened their stores in Russia. In terms of attracting investment, from the second quarter, foreign partners pay more attention to Vietnam's textile and garment industry, investment capital in this industry has grown well. In addition, the companies have taken the rhythm, apply new technology into production - business, especially in the field of yarn, weaving, dyeing.

The sector's target for 2018 is to raise exports to $ 33.5 to $ 34 billion. To reach this goal, there is a need to strategically focus on key solutions such as increasing technology use, continuing to call for investment, and developing a linkage in Vitas. In particular, investing in the development of the design industry, increasing the ODM sales (design on the idea of ​​availability, production) to 10% in order to gradually realize the goal of stripping and increase value added. "The rate of ODM exports has increased from 3% in 2016 to 7% in 2017, we have the basis to set a target of 10% in 2018. Two years, a large number of enterprises such as Phong Phu Corporation , Nha Be, Viet Tien, May 10, Viet Thang, An Phuoc ... strongly develop ODM array.

Source vinatex.com