Capitalising on the investments made and to be made further in technology and automation, Vietnam aims to fetch US $ 200 billion in apparel export revenue by the year 2035.
Vu Duc Giang, Chairman, Vietnam National Textile & Garment Group reportedly said that the new spinning mills in the country are equipped with the latest tech and machinery that manufacture high-end products and require lesser human intervention. Thus will bolster country’s exports to reach the magical figure of US $ 200 billion
However, he mentioned that to automate the yarn industry is easier as compared to the apparel manufacturing industry, as garment organisations are not focussing on their scale expansion but they are trying to enhance their values by shifting production from Cut-Make-Trim (CTM) to Free on Board (FOB) and original design manufacturing (ODM).
Last year, Vietnam apparel export industry earned US $ 30.2 billion with a 10.2 per cent growth compared to the prior year. The country is constantly investing in innovative technology to lessen the delivery time and enhancing its productivity with an increased focus on Australian and Russian markets. This year, the target is to increase the exports further to US $ 34.5 billion.
Reportedly, Vietnam’s textile sector has already marked a 15.4 per cent increase in apparel exports in the first quarter of 2018 to register US $ 7.82 billion in revenue. Japan remained its largest market during the said period.
What may further help Vietnam in achieving US $ 200 billion in apparel exports in the years to come is its recently inked pact – CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) through which it is expecting striking growth in its export revenue.
Bharat Tex Special Report 2026 
