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The year of 2009 ended with the difficulties of exports but garment industry’s export turnover remains getting an impressive figure with US$9.2bil, a 1% rise from the same period last year, contributing to lead the industry into the country’s top export list. Entering the year of 2010, aside from worries, the industry’s experts remained optimistic about its success.

Many garment businesses enjoyed new orders in the first days of 2010. Most of the orders last till the end of the 1st quarter and even till June and July. Many businesses therefore think about increasing prices to enhance profits.

Many export orders for garment industry brings joy for laborers.

Sai Gon 3 Garment JSC’s orders last till the 2nd quarter of 2010 with a total value of nearly US$40mil, a 20% rise from last year. Viet Tien Garment Company is also in the same situation with the total value of nearly US$80mil. Therefore, many businesses remain optimistic because they do not worry about laborers’ jobs.

The international Moneray Fund estimated, the world’s GDP in 2010 will rise about 2.2%, of which the US increases about 2%. Thanks to the increase, purchasing power of markets of the US, EU and Japan will be improved to surge supply. In 2009, Vietnam’s key market of the US decreased 5% of its demand but local businesses remained getting over 50% of total value of exports to the country.

According to economists, though the country’s garment and textile industry gets a remarkable growth, its development lacks stability. For instance, its material source depends on imports and its labor source gets become more uncommon. Besides, the price of input materials has started increasing, triggering a pressure on laborers’ income and so on.

To improve the status, the Ministry of Trade and Industry has launched a project of building a modern lab to replace old research devices of garment and textile goods. The project also set out some solutions to help businesses take advantages of chances for luring orders, to encourage businesses to build high quality production modalities and so on.

The President of the Vietnam Garment and Textile Association (Vista) Le Quoc An said ‘Vista will invest over VND1,1tril in productive technology. It will also link import and export businesses together, reorganize supply of domestic materials, lure investors to raise the domestication rate…’.

Reported by T.Khiem– Translated by A.C