Vietnam is confident of meeting $30bn export target

Vietnam’s textile and garment industry is confident of achieving its 2016 export target of $30 billion as most of the companies have enough orders already or are confident of achieving them to meet their revenue goals, according to Vietnamese media reports.

Importers have already placed ample of orders and the textile and garment industry in Vietnam may have to look for more staff in order to complete them on time, according to Vietnam Textile and Apparel Association (VITAS).

The textile and garment industry exported products worth $2 billion in January 2016, which is a rise of 5.8 per cent as compared to the corresponding period last year. Production increased by 12 per cent in the textile industry and by 11.2 per cent in the apparel industry in January.

The implementation of the Trans-Pacific Partnership (TPP) will bring more export opportunities for the country.