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.
Vietnam Textile and Apparel Association (Vitas) was established on July 16, 1999 with the goal of gathering, connecting and representing Vietnamese textile and garment enterprises, accompanying the industry in sustainable development. After 25 years of establishment, Vitas represents nearly 1,000 official and affiliated members from large corporations to small and medium enterprises.
The Association has made important contributions to the development of the Vietnamese textile and garment industry. It has participated in building strategies and planning for industry development; and 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 export turnover in 2024 is estimated to reach 44 billion USD as expected, up 11.26% compared to 2023. Import turnover is estimated to reach 25 billion USD, up 14.79%; trade surplus is 19 billion USD, up 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 policy advocacy activities, contributing to removing difficulties for businesses. Implementing the Textile and Footwear Industry Development Strategy, from now until 2030, the industry will gradually shift from rapid development to sustainable development.
Delegates attending the 25th Anniversary of Vitas and the 2024 Summary Conference.
From 2031 to 2035, the textile and garment industry will develop sustainably according to the circular economic model; complete the domestic value chain and participate in a high-value position in the global supply chain.
In the new phase, with the role of leading the Vietnamese textile and garment industry, Vitas will continue to make efforts; focus on intelligence, creativity, and unite with businesses to effectively implement the "dual" transformation solution, to build a sustainable Vietnamese textile and garment brand.
“The 25th Anniversary of Vitas and the 2024 Summary Conference” is an opportunity for industry experts, representatives of ministries, sectors, foreign partners and textile and garment enterprises to look back and evaluate the impressive development milestones of the Vietnamese 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 textile and garment; connecting businesses with many international textile and garment 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 ceremony, Mr. Dang Vu Hung - Vice President of Vitas emphasized that "dual" transformation is an inevitable requirement for the textile and garment industry to develop more sustainably. Specifically, it is to enhance the position and reputation of enterprises in the global value chain; help enterprises expand the market and grow faster. The Vietnamese textile and garment industry is striving for "dual" transformation to go further.
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 from new-generation trade agreements and from upgrading Vietnam's relations with the US, Japan, Australia, and Malaysia. Thereby, promoting the textile and garment industry to take advantage of opportunities for outstanding development.
Ha Anh
Source: https://doanhnghiepvn.vn/kinh-te/nganh-det-may-chuyen-doi-kep-de-tien-xa-hon/20241214112851744
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