Vietnam produced over 2.5 mn tonnes yarn in 2019: VITAS
VITAS: Vietnam produced over 2.5 mn tonnes yarn in 2019
Vietnam produced over 2.5 million tonnes of yarn in 2019, of which over 1.5 million tonnes valued at $4 billion were exported, according to Vietnam Textile and Apparel Association (VITAS) vice president Truong Van Cam, who said fabric output also rose six times and export value was worth $2.1 billion. The sector is expected to make breakthroughs this year, he said.
The Fourth Industrial Revolution, free trade agreements (FTA) that will take effect in 2020 and the penetration of international brands like Zara, H&M and Mango will also favor the industry’s growth, according to a report in a Vietnamese newspaper.
The sector has made significant progress, especially in yarn and dyeing, through IT applications, as reflected in improved productivity, accelerated production and reduced labor force.