Business

Vinatex targets over 16.4 billion USD in pre-tax profit

The Vietnam National Textile and Garment Group (Vinatex) set a goal of achieving 381.6 trillion VND (16.4 billion USD) in consolidated pre-tax profit in 2020, during its annual general meeting of shareholders on August 18.
Vinatex targets over 16.4 billion USD in pre-tax profit ảnh 1Producing face masks (Photo: VNA)


Hanoi (VNA) –The Vietnam National Textile and Garment Group (Vinatex) set a goal of achieving381.6 trillion VND (16.4 billion USD) in consolidated pre-tax profit in2020, during its annual general meeting of shareholders on August 18.

Thisyear’s revenue of the parent company is expected to be at about 1.33 trillion VND andprofit before tax at 130.4 trillion VND.

Vinatex's consolidated revenue in 2019reached 20.14 trillion VND and its before-tax profit was 765.5 billion VND.

Tran Quang Nghi,Chairman of Vinatex's Board of Directors, reported that the group posted anaverage annual revenue growth of 12.6 percent in 2015-2020 with profitincreasing by 2.5 percent.

The COVID-19 pandemicdragged down the revenue of Vinatex by 36 percent year-on-year in the second quarter of this year, to just over 3.08trillion VND. Profit stood at 280 billion VND, down 36 percent against the same period lastyear.

The State-owned group earned more than 7.04 trillion VND in revenue in thefirst half and posted 276 billion VND in profit, year-on-year falls of 24.5percent and 20.7 percent, respectively./.

VNA
#Vietnam National Textile and Garment Group (Vinatex) #pre-tax profit #parent company #Vietnamplus #Vietnam News Agency
Follow VietnamPlus

Related News

Garment exports forecast to plummet due to lack of orders

Garment exports forecast to plummet due to lack of orders

Vietnam's garment and textile exports in the first four months fell 10 percent year-on-year to 10.63 billion USD and could fall much further as buyers cancelled orders due to COVID-19, according to the Vietnam Textile and Apparel Association (Vitas).
Vinatex predicts 50 percent drop in profit before tax this year

Vinatex predicts 50 percent drop in profit before tax this year

The Vietnam National Textile and Garment Group (Vinatex), stock code VGT, predicts its consolidated profit before tax this year to fall by half to 382 billion VND (16.5 million USD) year on year due to the negative impacts of the COVID-19 pandemic.
Face mask prices on the rise

Face mask prices on the rise

The price of medical masks is on the rise after new COVID-19 community infections were confirmed in Da Nang city and Quang Ngai province.
Vinatex’s revenue nosedives 36 percent in Q2

Vinatex’s revenue nosedives 36 percent in Q2

The COVID-19 pandemic dragged down the revenue of the Vietnam National Textile and Garment Group (Vinatex) by 36 percent year-on-year in the second quarter, to just over 3.08 trillion VND (133 million USD).

See more

Vietnam is emerging as a preferred destination for many foreign enterprises (Photo: hanoimoi.vn)

Vietnam emerges as bright spot of growth, trusted and responsible partner

Despite a volatile global environment, Vietnam recorded solid gains in 2025. With flexible and proactive policies under the leadership of the Communist Party of Vietnam and the Government, all 15 key socio-economic targets were met or exceeded, while GDP expanded by about 8.02%, surpassing expectations.

An image of a Vietnamese game. CIS region has potential for gaming developers from Viet Nam. (Photo: Courtesy of cellphones.com.vn_

CIS: Opportunity for game developers in Vietnam

The CIS region, which includes Eastern Europe and Central Asia, has potential for gaming developers from Vietnam as this market displays user behaviour patterns that are highly favourable for mobile gaming growth, particularly around major holiday periods.

Banks, including MB Bank, have issued alerts about scams conducted via social media platforms such as Zalo and Facebook, where criminals impersonate acquaintances. (Photo: The Courtesy of MBBank)

Financial scams surge ahead of Tet

As the Lunar New Year (Tet) approaches, financial and banking scams in Vietnam are showing a sharp upward trend, prompting banks and law enforcement agencies to issue repeated warnings.

Hai Phong targets 4.3 billion USD in FDI in 2026 (Photo: VNA)

Hai Phong city targets 4.3 billion USD in FDI in 2026

Hai Phong’s investment appeal is underpinned by a rapidly expanding development space, including the Southern Coastal Economic Zone covering more than 20,000 hectares, a planned free trade zone, deep-water ports at Lach Huyen, and 12 industrial parks newly established in 2025.

The relocation of check-in counters aims to better meet the travel needs of residents and visitors. (Photo: VNA)

Vietjet shifts domestic check-in at Tan Son Nhat from January 13

During the recent New Year 2026 holiday peak, Vietjet added 380 flights, equivalent to nearly 78,000 additional seats, on many key domestic routes linking Hanoi and Ho Chi Minh City with destinations such as Vinh, Thanh Hoa, Hai Phong, Da Nang, Phu Quoc, Nha Trang and Da Lat.

Commercial banks are providing approximately 88% of total green credit outstanding in Vietnam. (Photo: nhandan.vn)

Capital sources expanded for sustainable growth

According to the State Bank of Vietnam (SBV), by the end of November 2025, outstanding green credit was estimated at around 750 trillion VND (28.55 billion USD), with an average growth rate exceeding that of overall credit in the economy.

Customers select goods at a supermarket. (Photo: VNA)

Retail market expands sharply, sustainability challenges persist

According to a report on recently released by the Ministry of Industry and Trade’s Agency for Domestic Market Surveillance and Development, the size of the market reached more than 7 quadrillion VND (about 266 billion USD) in 2025, up around 10% compared with 2024.

Oil rigs at the Bach Ho oil field. (Photo: VNA)

Resolution 79: State economy to lead growth

Resolution 79 is described as a “clear action declaration” by the Politburo, saying the state economy is not only responsible for maintaining macroeconomic stability, but must also become the force leading a new growth model that is green and sustainable.

Workers at Garment 10 Corporation produce apparel for export. (Photo: Nhan Dan)

Vietnam leverages export advantages within RCEP region

In 2025, seafood exports to China alone exceeded 2.2 billion USD, up about 33% compared to 2024. Shipments to Japan fetched nearly 1.7 billion USD, a year-on-year increase of 14.6%, while those to the Republic of Korea and Australia grew by 9.6% and 3.2%, respectively.

Certificates of membership in the Vietnam International Financial Centre in Da Nang are awarded at the conference on January 9. (Photo: VNA)

Da Nang continues targeted investment promotion approaches

According to Chairman of the Da Nang People’s Committee Pham Duc An, the city prioritises building sustainable economic ecosystems and focuses on key breakthrough sectors with strong spillover effects, including high technology and digital transformation, logistics, urban infrastructure, finance, processing and manufacturing industries, high-tech agriculture, and the pharmaceutical and medicinal herb industry.