Vietnam’s textile and garment exports to China in Q1 experienced the highest growth among the five largest export markets. The E.U. is facing the risk of a pandemic resurgence, while Japan’s economy is yet to revive. China has indicated in its 14th five-year plan that it will not concentrate on textile production in the 2021-2025 period. Vietnam’s textile exports in the first five months of 2021 hit $12.2 billion, up 15 percent year-on-year, according to the General Statistics Office.

Vinatex targets revenues of VND1.5 trillion ($66 million) this year, and pre-tax profit of V Nguyen201 billion ($65 million) up 37 percent, up 5 percent year on year. The group said it will continue to divest from ineffective companies.