Vietnam’s garment-textile export turnover is projected at US$38-39 billion in 2021, Le Tien Truong, Chairman of the Vietnam National Textile and Garment Group (Vinatex) said on December 29.

VOV.VN - Previous years have seen garment and apparel businesses have orders until the end of the year and into the first half of next year, while this year many firms are only be able to receive orders on a monthly or even weekly basis.

The Vietnam National Textile and Garment Group (Vinatex) aims for an annual growth rate of 8% – 10% in production value, revenue and export value in the period from now to 2025, according to the group’s chairman of the board Le Tien Truong.

The Vietnam Textile and Garment Group (Vinatex) forecasts the country’s textile and garment exports will continue to decline by 14-18% each month for the rest of 2020 over the same period last year.

The Vietnam National Textile and Garment Group (Vinatex) set a goal of achieving VND381.6 trillion (US$16.4 billion) in consolidated pre-tax profit in 2020, during its annual general meeting of shareholders on August 18.

Anticipating difficulties ahead, businesspeople believe that it is not the time to leave the market.

VOV.VN - The second half of the year is poised to witness textile and apparel exports continue to record falls of around 14% to 18% in comparison to the same period last year, with the year’s total export turnover reaching approximately US$32.75 billion.

VOV.VN - The garment sector is struggling to maintain production in the second half of the year as its export market is forecast to shrink by at least 30-40%, according to Le Tien Truong, General Director of the Vietnam National Textile and Garment Group.