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.
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.
The Vietnam National Textile and Garment Group (Vinatex) set a goal of achieving VND381.6 trillion (US$16.4 billion) in consolidated pre-tax profit in 2020, during its annual general meeting of shareholders on August 18.
VOV.VN - The second half of the year is poised to witness textile and apparel exports continue to record falls of around 14% to 18% in comparison to the same period last year, with the year’s total export turnover reaching approximately US$32.75 billion.
The Vietnam Textile and Garment Group (Vinatex) has projected its export turnover to reach 2.89 billion USD in 2019, up 1 percent from last year and meeting 97.6 percent of the yearly target.
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