Vietnam is estimated to reap over 1. 7 billion U.S. dollars from exporting garments and textiles in the first four months of this year, a year-on-year rise of 38.7 percent, a local trade information center said Friday.
With such high export growth, Vietnam is likely to make garment export revenues of 5.5 billion dollars this year, up nearly 14.6 percent against last year, the Trade Information Center under the Trade Ministry said, noting that many enterprises in the country have already inked contracts on exporting garments and textiles for the whole 2006, mainly to the European Union (EU) and the United States.
Nearly 600 firms in Vietnam export garments and textiles to the EU, up from 500 in early 2005, the center said. Besides the traditional market, they are exploring new ones in Africa and East Europe.
The Vietnam National Textile and Garment Group (Vinatex), the countrys biggest garment producer, will start construction of a center for trading materials and accessories at investment of 25 million dollars late this year. Now, there are few stable and large domestic supplies of garment and textile materials and accessories, the department said, noting that Vietnam has to heavily rely on imports, especially cloth for garment production.
Vietnam has planned to reap 15 billion dollars from shipping garments and textiles abroad in 2015, up from 4.8 billion dollars in 2005, said Vinatex.
