City outlines garment ambition
City outlines garment ambition
Authorities in HCM City plan to double the garment and textile industry's export turnover by 2015 over the 2010 figure of US$3.3 billion.
The city, which sees the industry as one of its five key exports from 2011 to 2015, has asked manufacturers to expand production, improve product quality and find new markets.
In a report released on Tuesday, the Thoi Bao Kinh Te (Viet Nam Economic Times) said that most garment and textile factories had moved to rural areas, which there is a rich source of manual labourers.
In recent years, garment companies in HCM City have improved product quality and design by investing in advanced technologies.
As a result, many companies such as Anh Phuoc, Thai Tuan, Viet Thy, Viet Thang and Phong Phu have increased their market share in the country.
HCM City is also developing a plan to reduce the industry's reliance on imported raw materials, according to the report.
A draft plan calls for more local production of materials used in the garment and textile industry, including cloth and accessories like zippers. Currently, most raw materials are imported.
The plan targets increasing the amount of locally produced raw materials from 45 per cent to 65 per cent by 2020.
The city's five-year plan drawn up for the industry also calls for a design centre, a factory to produce accessories for the industry, and a plant to produce machinery for garment factories.
Currently, more than 5,400 garment and textile manufacturing and trading companies are operating in HCM City, with a total of 306,000 labourers.
The output of the city's industry accounts for 37 per cent of the total figure nationwide.
According to the city's Department of Industry and Trade, the local garment industry has maintained growth despite many challenges during tough economic times.
Last year, the industry's export turnover reached more than $4.3 billion, a year-on-year increase of 11.5 per cent.
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