Vietnam textile sector aims at 8 per cent export growth in 2019

Vietnamís apparel and textile sector aims to increase its export turnover for 2019 to 8 per cent. This was announced by the Vietnam National Textile and Garment Group, also called Vinatex.

Cao Huu Hieu, Executive Director, Vinatex, said that the group is striving to attain 5 per cent increase in industrial production and 7 per cent rise in revenue in 2019.

He also added that the Group is aiming a 12 per cent hike in profits.

Hieu said that Vietnam is heading towards progress with the first quarter of 2019 already booked with orders. However, he quickly added that increasing input costs continued to remain a big challenge for the industry.

Besides, minimum wage too is expected to increase by 5.3 per cent in 2019, which may further increase the cost of labour as well as social insurance premium.

Vinatex, however, will continue to focus on improving the productivity of workers as well as investing on machines in 2019.

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