Textile sector targets 9.5 billion USD

HCM City (VNA) - The textile and garment sector is striving to
fulfill this year's export target of 9.5 billion USD despite a lot of
difficulties such as rising raw material prices and the lack of skillful workforce.

The statement was made by General Director of the Vietnam Textile and
Garment Group (Vinatex) Vu Duc Giang at a conference to discuss measures for
the sector's export plan for this year that was held in Ho Chi Minh City
on July 16.

The sector is implementing three strategic programmes on cloth production,
cotton cultivation and personnel training and calling for foreign investment
in industrial zones.

It is expanding its cotton cultivation acreage in the central province of
Ninh Thuan , Binh Thuan, Ha Tinh, Quang Nam and Quang Ngai and the
Central Highlands provinces of Dak Lak, Dak Nong and Gia Lai.

Regarding raw materials, the group is collaborating with the Vietnam
National Oil and Gas Corporation (PetroVietnam) to invest 4 trillion VND in
a synthetic fibre making project capable of turning out 180,000 tonnes of
product annually.

The plant, together with the Taiwanese Fomosa Group's project in Nhon Trach
IZ, are expected to meet 42 percent of the domestic demand for synthetic
fibre by 2012.

In 2014, Vinatex will venture with PetroVietnam to build the second
synthetic fibre plant with the hope of meeting 80 percent of the domestic
demand by 2017.-Enditem