Vietnam is aiming for a 10.8 per cent increase in export turnover of garment and textile products this year. In 2018, export turnover from garment and textile products saw a year on year increase of 16 per cent. This level of growth would make the nation among the top three largest exporters of textiles and garments in the world.

In addition, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to help the economy grow 1.3 per cent and boost export turnover by four per cent. The CPTPP is expected to cut import tariffs and diversify products available in CPTPP member countries.

The sector has gradually completed the supply chain thanks to increasing flow of capital invested in the textile and dyeing industry, making its products more competitive. Order statuses for 2019 are also very positive. Many businesses already have orders for the first six months of this year and even the whole year.

However, Vietnam has to depend on raw material imports. Enterprises have to import over 60 per cent of the raw materials they need. If the dependence on imported materials is not reduced, the industry may not be able to enjoy the benefits of CPTPP.