The Vietnam National Textile and Garment Group (Vinatex), the largest textile maker in the country, expects its export turnover to rise up to 8 percent in 2019.(Photo: VNA)
Hanoi (VNA) – The Vietnam National Textile and Garment Group(Vinatex), the largest textile maker in the country, expects its exportturnover to rise up to 8 percent in 2019, the group said at a press conferenceon December 27.
According to Vinatex Executive Director Cao Huu Hieu, the group is striving for5 percent increase in industrial production, 7 percent growth in revenue, and12 percent hike in profit.
It exported more than 3 million USD worth of products in 2018, a year-on-yearsurge of 10.9 percent, and gained 46.3 trillion VND (1.98 billion USD) inindustrial production value, up 9.7 percent against the previous year.Meanwhile, total revenue rose 6.6 percent to 48.6 trillion VND (2.08 billionUSD).
Although the group has secured orders until the end of 2019’s Quarter 1, highinput costs are deemed as a formidable challenge to the corporation, he said,adding that the minimum wage is forecast to expand 5.3 percent, resulting in arise in social insurance premium and labour cost.
Garment and textile firms must outline rational measures for each marketscenario. To be more specific, they should join hands with their customers andpartners to set up value chain to overcome difficulties, Hieu stressed.
He underlined that Vinatex has paid due attention to quality of orders andcustomers, and worked to be in top five producers in Vietnam.
Besides investing heavily on modern machines and equipment that meetinternational standards to manufacture excellent products, the group willchannel focus to improving labour productivity and increasing workers’ income,he added.-VNA
VNA
