Vietnam’s textile and apparel exports are expected to reach US$100 million today

According to a report by “Vietnam News” on December 4, Vietnam Textile and Apparel Group predicts that Vietnam’s textile and apparel exports will reach US$24.5 billion this year, an increase of 19% over the previous year. It is expected that Vietnam’s textile and garment industry will maintain rapid development in 2015. The industry focuses on increasing the localization rate of products and reducing dependence on imported raw and auxiliary materials. In addition, foreign investment in Vietnam’s textile raw material field continues to expand, and the localization rate of products has increased to more than 50%. But the industry needs to invest in new technologies, machinery and innovation to improve productivity, quality and competitiveness.