Vietnam Media Claims That Its Textile And Garment Industry Has Bright Prospects.

< p > Vietnam Ministry of industry and trade data showed that in the first quarter, the a href= "//www.sjfzxm.com/" > Vietnam < /a > textile and garment industry developed well, and the export volume of the industry was 4 billion 500 million US dollars, up 21.9% over the same period.

In the first quarter, Vietnam's textile and garment industry output grew fastest in the industrial sector, an increase of 20.2% over the same period, while the industrial sector grew by 3.9% year-on-year.

In 2014, Vietnam's textile industry has bright prospects for development.

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< p > in order to seize the opportunity to sign the p Pacific Strategic Economic Partnership Agreement (TPP) this year, Vietnam's domestic textile and garment enterprises accelerate the pace of investment in fiber production, weaving, printing and dyeing and clothing production.

Vietnamese textile industry predicts that if TPP can be signed, the US import tariffs on Vietnamese textiles will drop from 17%-32% to zero.

However, TPP's tariff reduction is conditional. The main manufacturing processes such as spinning, weaving and dyeing must be carried out in TPP member countries.

Vietnam textile and apparel group is seeking 9 trillion and 720 billion Vietnamese Dong (US $458 million) fund to invest in 57 projects, including fiber production, weaving, printing and dyeing and clothing production.

These funds need to be supported by the Vietnamese government.

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< p > Vietnam a href= "//www.sjfzxm.com/news/index_c.asp" > garment manufacturing < /a > enterprises do not have large capital reserves, so it is difficult to invest in establishing their own yarns and textile factories, mainly relying on China and other Southeast Asian countries.

Therefore, many enterprises from three places across China have entered the Vietnamese textile and garment industry and established yarn and textile factories.

Some economists point out that in the textile and garment industry, the signing of TPP will mainly benefit foreign investment enterprises, rather than Vietnamese local enterprises.

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< p > in order to make up for the short board, Vietnam's Ministry of industry and trade requires domestic textile and apparel "a href=" //www.sjfzxm.com/news/index_p.asp "production enterprise < /a > to develop in all parts of the industry price chain, including spinning, weaving and printing and dyeing, while improving design, promoting trade and establishing distribution network, so as to make full use of the opportunities brought by TPP.

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