Garment-textile industry seeks diverse supplies of raw materials
HCM City (VNA) – Diversifying supplies of raw materials for the garment-textile industry has proven a headache during the COVID-19 pandemic, which has now been largely brought under control in Vietnam but remains a complex issue in other countries, a conference in HCM City on June 24 heard.
Figures show that the sector incurred losses of over 12 trillion VND (517.5 million USD) in the first half of 2020 due to COVID-19.
Nguyen Thi Tuyet Mai, Deputy General Secretary of the Vietnam Textile and Apparel Association, said the sector has set an export target of 40 billion USD in 2020.
The pandemic made that goal next to impossible, she said, and the association has now adjusted it to 34 billion USD, but even this will be problematic.
Apparel export turnover for the year as a whole is expected to be about 20 percent less than in 2019, while enterprises will only operate at 70-75 percent of capacity to the end of the year./.VNA
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