To reach the target, the industry would focus on increasing the efficiency of its assets, reviewing debt and inventory levels, making more efficient use of investment capital, said Vinatex deputy director Le Tien Truong.

It also would increase market forecasting capacity, as well as strengthen traditional export markets and tap new markets, according to a teleconference yesterday to discuss the industry's production plans for 2013.

The main export markets for Vietnamese garment and textiles continued to be the US, Japan and the EU, all of which were facing ongoing economic difficulties.

Truong said the textile industry and Vinatex in particular maintained stable growth last year despite many difficulties. Last year was the fourth consecutive year in which the garment industry continued to hold the number one position among the nation's exports.

The industry's exports last year reached US$17.2 billion, up 8 per cent over the previous year, and accounted for around 16 per cent of the nation's total export value.

Vinatex's export value alone was $2.6 billion, a year-on-year increase of 16 per cent, Truong said. To achieve these results, Vinatex had focused on improving labour productivity and production efficiency as well as focusing on producing high-value products. — VNS