Vietnam's Ministry of Industry and Trade has ratified a textile and garment industry development plan for 2020, including a vision for 2030. The plan is aimed at boosting the growth of the textile industry. It lays out a series of milestones to be reached. With respect to localization rate within the industry, the government has set the goals of 55 per cent by 2015, 65 per cent by 2020 and 70 per cent by 2030.

The development plan also pushes for an annual production growth rate of 12 to 13 per cent during 2013 to 2020. The annual export goal is 10 to 11 per cent from 2013-2015 and 19 to 21 per cent annual growth for the 2016-2020 period; with 25 to 28 per cent annual growth for the 2021-2030 period. The export turnover is predicted to reach $40 billion during the 2020 to 2025 period. This will require 12 billion sq. mt. of fabric and five million workers. 

The domestic market is estimated to see a growth rate of 9 to 10 per cent during the 2013-2015 period and 10 to 12 per cent during the 2016-2020 period. Vietnam’s textile industry is playing an increasingly large role in the country’s economy. The products are exported to over 50 countries around the world, with the US as the largest importer.