Vietnam News Network

Vietnam News: Local, National, Business, Sport, Entertainment and Technology

Trade ETHUSD, Bitcoin and Cryptocurrencies

BUY & SELL ETHUSD | View ETHUSD News & Updates


Buy Sell ETHUSD, Bitcoin and Cryptocurrencies

Textile, garment sector needs trademark   2009-02-24 - VietNamNet/Viet Nam News

Prime Minister Nguyen Tan Dung shared the economic difficulties of the textile and garment sector while appreciating the sector’s efforts to maintain production, exports and job creation for local people.

The group should continue to raise quality and to reduce production costs in order to maintain competitiveness for a $10 billion export value this year, while also maintaining jobs and income for labourers.

Dung was chairing a Government meeting with the Viet Nam National Textile and Garment Group (Vinatex) and the Viet Nam Textile and Garment Association in the capital city yesterday.

The Prime Minister said the sector had contributed 15 per cent of the country’s export value and employed the largest number of labourers in comparison to other industries.

Overall, the sector, with Vinatex as the main industry force, had achieved a year-on-year growth rate and raised competitiveness in the world market, he said.

Despite being hit by the market fluctuation Vinatex still shared orders with other enterprises, an action that helped more than 10,000 labourers keep their jobs, added Dung.

However, the Prime Minister pointed out the sector’s failure to create a breakthrough in building trademark, for having low equity and for its limited use of domestic raw materials.

He asked the group to update its technology, improve professional skills and expand market.

Referring to this year’s development plan, Dung requested the group to stick close to the approved strategy, which strives to achieve US$25 billion in export revenue and to generate jobs for 5 million people by 2020.

The group should continue to raise quality and to reduce production costs in order to maintain competitiveness for a $10 billion export value this year, while also maintaining jobs and income for labourers.

Dung said the Government would maximise its support relating to export, labour, finance and taxes.

He gave authority to the ministries of Finance, Trade and Commerce and to the State Bank of Viet Nam to help Vinatex implement trade promotions and with labour and tax policies.

Government members also agreed that policies to support Vinatex in trade promotion, help labourers, investment and domestic consumption were very important to help the group overcome difficulties under the context of global economic meltdown.

Chairman of the Management Board of Vinatex Le Quoc An said that despite difficulties, the sector still achieved $9.1 billion last year in export turnover, representing an increase of 17 per cent compared with the previous year’s figure.

An said due to global economic decline, especially in the US, EU and Japan, garment orders would be cut by 20 per cent in the first quarter and 15 per cent in the second quarter this year.

He said the sector was intensifying its effort to speed up both domestic consumption and exports in an attempt to overcome sales difficulties and to generate 2 million jobs.

The sector would also implement policies related to finance, social welfare and technology modernisation to achieve the target of between $9.5 billion and $10 billion this year.



Other news

Banks’ profit mainly comes from services   2009-02-24

Foreign experts assess tax reforms   2009-02-24

Index continues to plumb depths   2009-02-24

Indochina Capital denies capital withdrawal from Vietnam   2009-02-24

Management of personal income tax faces many risks   2009-02-24

Who pushes the gold price up to the peak?   2009-02-24

Bilateral trade with US manages to top $15bil in 2008, despite crisis   2009-02-24

Where to inject money in economic recession?   2009-02-24

SSI tops brokers; SSC denies rumours   2009-02-24

How long will shares be under control?   2009-02-24

Banks’ profit mainly comes from services   2009-02-24

No light yet at the end of tunnel for HCMC stocks   2009-02-24

Office rent coming down   2009-02-24

Airplane maintenance company opens doors   2009-02-24