The textile and garment industry's local procurement reached a record high rate of 57 % in the first eight months of this year, approaching the target of 60% set for 2025, Le Tien Truong, chairman of the Vietnam National Textile and Garment Group (Vinatex), said.
The Ministry of Industry and Trade confirmed that Vietnam will rise to the third largest export of clothing in the world at the conference to connect the supply and demand of raw materials for Vietnam s textile and garment industry.
Vietnam has surpassed the Republic of Korea to become the world’s sixth largest fibre and yarn exporter after shipping abroad 2.37 billion USD worth of these items in the first five months of 2022.
Although textile export was riding high in the first half of the year with a growth of 23 per cent, insiders are pessimistic that the rest of 2022 will match up.