Vinatex aims for 8% – 10% growth in exports

The Vietnam National Textile and Garment Group (Vinatex) aims for an annual growth rate of 8% – 10% 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.
vinatex aims for 8 10 growth in exports
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% in the past five years. Its total revenue increased from VND39.45 trillion in 2015 to VND49.2 trillion in 2019.

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

Source: VNA
english.vov.vn

Related News

Considering request to anti-dumping investigation on imported hot-rolled HRC steel

Considering request to anti-dumping investigation on imported hot-rolled HRC steel

VCN - Regarding the proposal to initiate an anti-dumping investigation on HRC hot-rolled steel products imported from China to Vietnam, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan emphasized the needs of complete basis and evidence to demonstrate whether an anti-dumping investigation should be applied or not.
Hundreds of tons of cinnamon essential oil are left in inventory due to export regulations

Hundreds of tons of cinnamon essential oil are left in inventory due to export regulations

VCN - Enterprises exporting cinnamon essential oil are facing difficulties due to regulations on pharmaceutical trading of the Ministry of Health, leading to hundreds of tons of essential oil being left in stock in raw material areas.
Exports in first 2 months reach high record ever

Exports in first 2 months reach high record ever

VCN - In the first two months of 2024, the country's exports surged 19% year-on-year to US$59.21 billion, according to statistics from the General Department of Customs.
Vietnamese goods are becoming more and more "qualified"!

Vietnamese goods are becoming more and more "qualified"!

VCN - To conquer Vietnamese consumers and be ready to export to demanding markets, many businesses have "joined hands" to build sustainable supply chains and improve the quality of Vietnamese goods.

Latest News

Find opportunities in niche markets to increase exports

Find opportunities in niche markets to increase exports

VCN - New markets and niche markets are the way for exports to reduce dependence on traditional markets. Exploiting opportunities in these markets will open up many new opportunities.
Vietnam transforming into new global manufacturing hub: experts

Vietnam transforming into new global manufacturing hub: experts

Vietnam is transforming into a new global manufacturing hub, offering a diverse range of products that are competitively priced and continuously improving in quality, assessed foreign distributors and importers, who will participate in the Vietnam International Sourcing expo this June.
Sustaining growth solutions for coffee exports

Sustaining growth solutions for coffee exports

VCN - The continuous increase in coffee prices has provided a strong boost for coffee exports, aiming for a record of US$5 billion. However, it still requires many comprehensive solutions to enhance quality and value to ensure sustainable development for the coffee industry in the future.
Vietnam National Brand Week to be held in mid-April

Vietnam National Brand Week to be held in mid-April

The Vietnam National Brand Week 2024 will be held nationwide from April 15-21 to raise public awareness of Vietnam national brand and promote products recognised as national brands to domestic and international communities.

More News

Textile industry in sustainability push to meet stringent requirements

Textile industry in sustainability push to meet stringent requirements

Textile and garment businesses are making a green push with development of eco-friendly products adapted to global fashion trends and by meeting the stringent requirements under free trade agreements the country has signed, according to industry insiders.
Loosening the belt buckle for sustainable development of the maritime industry

Loosening the belt buckle for sustainable development of the maritime industry

VCN - Recently, the growth of maritime and waterway transportation has been impressive, with a double-digit rate of about 10-12% per year. However, despite many advantages, the waterway system has not been efficiently utilized, commensurate with its potential. The Customs News had a discussion with Pham Quoc Long, Vice Chairman of the Vietnam Shipowners' Association, on this issue.
Vietnam ready to ride US investment wave

Vietnam ready to ride US investment wave

Vietnam is on the verge of seeing a massive influx of investments from the US, and stands ready to welcome the wave.
Investing in wages is investing in development

Investing in wages is investing in development

VCN - According to Dr. Bui Sy Loi (photo), senior expert of the Ministry of Labor, War Invalids and Social Affairs, former Deputy Chairman of the National Assembly's Committee on Social Affairs, the National Assembly's adoption of the reform policy salaries, resource decisions and salary reform policies on July 1, 2024 is a suitable time, both historical and topical, contributing to ensuring life, creating peace of mind for staff, civil servants, public employees and workers.
Import and export in the first quarter: clearer and clearer bounce- back trend

Import and export in the first quarter: clearer and clearer bounce- back trend

VCN - As calculated, total import-export turnover of goods in the first quarter of the year reached over 178 billion USD, up 15.5% year on year. Both exports and imports achieved high growth rates, clearly showing a recovery trend.
Measures sought for coffee firms to adapt to EU Deforestation Regulations

Measures sought for coffee firms to adapt to EU Deforestation Regulations

Experts gathered in the Central Highlands province of Gia Lai on April 9 to seek measures to help local coffee businesses to adapt to the EU Deforestation Regulations (EUDR) and promote exports to the EU market in particular and the world in general.
Vietnam’s export to India maintains growth momentum

Vietnam’s export to India maintains growth momentum

Vietnam kept its export growth momentum in the Indian market in 2023 after two-way trade hit a record high of 15 billion USD in 2022, Vietnamese trade counsellor in India Bui Trung Thuong told the Vietnam News Agency.
Ample room remains for Vietnam"s exports to China

Ample room remains for Vietnam"s exports to China

There remains ample room for Vietnam's exports to China and the growth will be directly proportional to the quality improvement of products by domestic enterprises, according to Dau tu (Investment) Newspaper.
Negotiating actively FTAs, increasing benefits for businesses

Negotiating actively FTAs, increasing benefits for businesses

VCN - Facing the improvement of exports in the first quarter, sharing with the press, Mr. Tran Thanh Hai, Deputy Director of the Import-Export Department (Ministry of Industry and Trade) said that many solutions will continue to be implemented to achieve the goal export growth 2024.
Read More

Your care

Latest Most read
Find opportunities in niche markets to increase exports

Find opportunities in niche markets to increase exports

VCN - To support businesses in accessing the market, Vietnamese trade agencies abroad are actively providing information and connecting Vietnamese businesses with potential markets.
Vietnam transforming into new global manufacturing hub: experts

Vietnam transforming into new global manufacturing hub: experts

Vietnam is transforming into a new global manufacturing hub, offering a diverse range of products that are competitively priced and continuously improving in quality, assessed foreign distributors and importers, who will participate in the Vietnam International Sourcing expo this June.
Sustaining growth solutions for coffee exports

Sustaining growth solutions for coffee exports

VCN - The continuous increase in coffee prices has provided a strong boost for coffee exports, aiming for a record of US$5 billion. However, it still requires many comprehensive solutions to enhance quality and value to ensure sustainable development for
Vietnam National Brand Week to be held in mid-April

Vietnam National Brand Week to be held in mid-April

The Vietnam National Brand Week 2024 will be held nationwide from April 15-21 to raise public awareness of Vietnam national brand and promote products recognised as national brands to domestic and international communities.
Textile industry in sustainability push to meet stringent requirements

Textile industry in sustainability push to meet stringent requirements

Textile and garment businesses are making a green push with development of eco-friendly products adapted to global fashion trends and by meeting the stringent requirements under free trade agreements the country has signed, according to industry insiders.
Mobile Version