A corner of Binh Duong Garment Company Ltd. (Photo: VNA) The industry’s trade surplus is expected to reach $20 billion this year. Employment will be ensured and income for 2.85 million workers would be increased, said VITAS. These targets were based on a successful year in 2018, when export turnover of garments and textiles products reached more than $36 billion, marking a year-on-year increase of 16 per cent. This level of growth would make the nation one of the top three largest exporters of textiles and garments in the world. In addition, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which came into effect last month, was expected to help the economy grow by 1.3 per cent. It should boost export turnover by 4 per cent. The textile and garment industry is seen a key sector with many opportunities to expand the market. Chairman of VITAS Vu Duc Giang said the signs for order statuses for 2019 were also very positive. Many businesses already had orders for the first six months of this year and even the whole year. “The sector has gradually completed the supply chain thanks to increasing flow of capital invested in the textile and dyeing… Read full this story
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