MinTex intends to extend the date of September 27, 2010 and for this
subject, the due paperwork is in process in the ministry..
Earlier, the 15 percent regulatory duty was to be lifted by July 12,
2010; however, it was then extended to July 26, 2010. the ban was
imposed on yarn exports to help the value-added textile segment during
an ongoing rise in prices of cotton and yarn, internationally..
But the new decision has not gone down too well with the spinning
industry owners, as for them any new extension of the RD would mean
nailing them down permanently..
According to them, such fake interference by MinTex, followed by the
President’s and the Prime Minister’s bias nature towards them, who are
avoiding the key issue, owing to political factors, could possibly
deteriorate the future of the exportable yarn surplus in the nation..
More over, the current unrest within the textile industry, is spoiling
the nation’s image as a trustworthy textile products suppliers on one
hand, while disappointing fresh investment in the textile sector on the
other hand”
Date:7/6/2010
Source:vietnamnews.vnagency.com.vn