Vietnam's Ministry of Industry and Trade made a three-point proposal to help the country's garment and textile sector to survive in the context of difficulties caused by the global economic downturn, the local newspaper Liberty Saigon reported Tuesday.
First, the ministry asked the government to grant one percent of the sector's total export revenue as subsidy to local garment and textile exporters to maintain their production.
The ministry suggested the government earmark 1.1 to 1.4 million U.S. dollars for the country's garment and textile association to organize trade promotion activities in foreign markets such as Africa, Japan, East Europe and South America.
In the final point of the proposal, the ministry also asked the government to delay collection of value added tax levied on imported equipment used in garment production.
In the first two months this year, Vietnam's garment export turnover went down 12 percent over the same period last year to fetch 1.15 billion U.S. dollars.
First, the ministry asked the government to grant one percent of the sector's total export revenue as subsidy to local garment and textile exporters to maintain their production.
The ministry suggested the government earmark 1.1 to 1.4 million U.S. dollars for the country's garment and textile association to organize trade promotion activities in foreign markets such as Africa, Japan, East Europe and South America.
In the final point of the proposal, the ministry also asked the government to delay collection of value added tax levied on imported equipment used in garment production.
In the first two months this year, Vietnam's garment export turnover went down 12 percent over the same period last year to fetch 1.15 billion U.S. dollars.
