According to the global business information company Textiles Intelligence Textile Outlook International, said Vietnam has set a target that by 2020, one of the world ‘s five largest textile and garment manufacturing and exporting countries, and to promote social progress and environmental well-being.
In value terms, the Vietnamese textile and garment industry in 2020 export target at 200-220 million dollars. Vietnam determined through specialization, modernization and increase the added value, to achieve this leap.
Vietnam has begun to increase the added value. A substantial increase in the added value of Vietnamese textile and garment exports in 2005 to 2011, increased from 30.2% to 47.8%. During this period, exports increased from $ 4.8 billion to $ 15.8 billion, more than triple.
In the first nine months of 2012 textile and garment exports grew 7.4 percent from a year earlier to $ 11.14 billion.
This means that the 2015 export target will slowly grow to 140-160 million U.S. dollars, mainly taking into account the difficulties the United States and the European Union over the two major market economy.
Looking to the future, Vietnam has developed an ambitious plan, Vietnam will promote a strong exports, while maintaining the status of Vietnam ‘s textile and garment industry, including the most important industry.
To help achieve these plans, the government formulated a series of incentives to attract and encourage foreign direct investment (FDI), which is most likely to promote measures for the country’s future development.
In addition, Vietnam has signed a free trade agreement (FTA) with a number of countries and regions. In particular through its Southeast Asian Nations ( ASEAN ) member position to benefit from the ASEAN -China Free Trade Area (ACFTA), speaking from a population perspective, this is the world’s largest free trade zone.
In addition, the status of its members through its ASEAN, Vietnam has benefited from Australia and New Zealand , India, Japan and South Korea free trade agreement. In addition, Israel and Japan benefited from a bilateral free trade agreement. Vietnam is working with the EU to sign a comprehensive free trade agreement negotiations . Most importantly, Vietnam is to become part of the Trans-Pacific Partnership (TPP) to negotiate, TPP goal is to establish the Asia-Pacific region to establish a free trade zone.