DNVN - Speaking at the 25th anniversary of the Vietnam Textile and Apparel Association (Vitas) and the 2024 Summary Conference on December 14, Mr. Dang Vu Hung - Vice President of Vitas emphasized that the Vietnamese textile and garment industry is making efforts for "dual" transformation (green transformation, digital transformation) to go further.
The Vietnam Textile and Garment Association (Vitas) was established on July 16, 1999, with the goal of gathering, connecting, and representing Vietnamese textile and garment businesses, and supporting the sustainable development of the industry. Over its 25 years of establishment, Vitas represents nearly 1,000 official and affiliated members, ranging from large corporations to small and medium-sized enterprises.
The Association has made significant contributions to the development of Vietnam's textile and garment industry. These contributions include participation in formulating strategies and development plans for the industry, and involvement in negotiating important free trade agreements related to the textile and garment sector.
According to Mr. Vu Duc Giang - Chairman of Vitas, despite the complicated and unpredictable developments in the world and regional situations as well as difficulties in the domestic economic situation, the Vietnamese textile and garment industry still maintains a good growth rate.
Specifically, textile and garment exports in 2024 are estimated to reach $44 billion as projected, an increase of 11.26% compared to 2023. Imports are estimated at $25 billion, an increase of 14.79%; resulting in a trade surplus of $19 billion, an increase of 6.93% compared to 2023.
In terms of export markets, the US remains the largest market with an estimated export turnover of 16.71 billion USD, up 12.33% compared to 2023 and accounting for 37.98% of total export turnover. The Japanese market is estimated at 4.57 billion USD, up 6.18%, accounting for 10.39%.
The EU market is estimated at 4.3 billion USD, up 7.66%, accounting for 9.77%. The Korean market is estimated at 3.93 billion USD, up 10.36%, accounting for 8.93%. The Chinese market is estimated at 3.65 billion USD, up 1.76%, accounting for 8.3% and the ASEAN market is estimated at 2.9 billion USD, up 4.84%, accounting for 6.59%.
In 2024, Vitas achieved remarkable results in its policy advocacy activities, contributing to resolving difficulties for businesses. Implementing the Textile, Garment and Footwear Industry Development Strategy, from now until 2030, the industry will gradually shift from rapid growth to sustainable development.
Delegates attending the 25th anniversary celebration of Vitas and the 2024 year-end review conference.
From 2031 to 2035, the textile and garment industry will develop sustainably according to the circular economy model; completing the domestic value chain and participating in a high-value position in the global supply chain.
In this new phase, with its leading role in Vietnam's textile and garment industry, Vitas will continue its efforts; focusing its intellect and creativity, and working together with businesses to effectively implement the "dual" transformation solution, in order to build a sustainable Vietnamese textile and garment brand.
"The '25th Anniversary Celebration of Vitas and the 2024 Review Conference' is an opportunity for industry experts, representatives from ministries and agencies, foreign partners, and textile and garment businesses to look back and assess the impressive milestones in the development of Vietnam's textile and garment industry over the past 25 years."
Over the past 25 years, the Vietnam Textile and Apparel Association has played a good role in connecting domestic enterprises with each other and with foreign invested enterprises to form a supply chain. Organizing many trade promotion delegations in major markets to expand export activities.
At the same time, participating and actively working in many large international organizations specializing in textiles and garments; connecting businesses with many international textile organizations and associations. In particular, Vitas has played a good role as a bridge between textile and garment enterprises and the Government , ministries, branches and localities to reflect on difficulties in policy mechanisms, creating favorable conditions for businesses.
Speaking at the celebration, Mr. Dang Vu Hung – Vice Chairman of Vitas – emphasized that "dual" transformation is an essential requirement for the textile and garment industry to develop more sustainably. Specifically, it aims to enhance the position and reputation of businesses in the global value chain; helping businesses expand their markets and grow faster. The Vietnamese textile and garment industry is striving for "dual" transformation to move further forward.
To promote the development of the textile and garment industry in the coming time, Dr. Can Van Luc - Member of the National Financial and Monetary Policy Advisory Council recommends that Vietnamese textile and garment enterprises need to make good use of support policies on taxes, fees, interest rates... to restructure operations, control financial risks and cash flow. Grasp major trends, including green development and digitalization; integrate sustainable development factors.
At the same time, diversify markets, partners, supply chains, products and services. Improve the quality of corporate governance and risk management, especially legal, financial, data, origin of goods, greening requirements, and trade protection.
In particular, businesses need to take advantage of opportunities arising from new-generation trade agreements and from the upgraded relations between Vietnam and the US, Japan, Australia, and Malaysia. This will enable the textile and garment industry to seize opportunities for outstanding development.
Ha Anh
Source: https://doanhnghiepvn.vn/kinh-te/nganh-det-may-chuyen-doi-kep-de-tien-xa-hon/20241214112851744
Comment (0)