Vinatex aims for 8 – 10 percent growth in exports hinh anh 1Illustrative image (Photo: VNA)

Hanoi (VNA) – The Vietnam National Textile and Garment Group (Vinatex) aims for an annual growth rate of 8 – 10 percent in production value, revenue and export value in the period from now to 2025, according to the group’s chairman of the board Le Tien Truong.

He said the group is facing various challenges in the time ahead, one of which is the complicated developments of the trade friction between the US and China, plus the heavy impacts of the COVID-19 pandemic on the global economy.

In such a context, Vinatex is implementing many solutions in order to achieve its set targets, focusing on promoting innovation, business restructuring and enhancement of leadership capacity.

The group has recorded an average growth of 5.62 percent in the past five years. Its total revenue increased from 39.45 trillion VND in 2015 to 49.2 trillion VND in 2019.

The group reeled in over 2.39 billion USD from exports in 2015 and the figure rose to 2.9 billion USD in 2019./.