Home / Knowledge / News / Apparel/Garments / Vinatex targets 12% export growth in 2014
Vinatex targets 12% export growth in 2014
10
Jan '14
The Vietnam National Textile and Garment Group (Vinatex) has set a target to achieve 12 percent growth in exports this year, reports Vietnam Plus.
 
Although economic difficulties are forecast for 2014, Vietnam’s apparel sector is expected to have bright prospects, said Le Tien Truong, deputy general director of Vinatex.
 
Mr. Truong said in order to achieve the export target, Vinatex will adopt better investment, finance and human resource management policies, develop its markets, and also focus on business development.
 
In 2013, Vinatex’s exports were nearly US$ 3 billion, up 12 percent year-on-year, while its earnings from the domestic market were 22.5 trillion VND (approx. US$ 1.05 billion), showing a rise of 15 percent year-on-year.
 
Meanwhile, the average salary of Vinatex’s employees rose by 10 percent year-on-year in 2013, and the company currently spends 5.2 million VND per month on salaries.
 
Last year, growing at 16.9 percent year-on-year, Vietnam exported textiles and garments worth US$ 19.8 billion, contributing about 15 percent to the country’s total foreign exchange earnings.
 
Vinatex is one of the largest textile and garment corporations in Asia. The group includes nearly 120 subsidiary companies that produce textiles and garments and run commercial services. These companies also have their own distribution systems including wholesale and retail dealers.
 
Last month, Vinatex started construction of a textile complex in An Lão, a rural district of Hai Phong, the third largest city in Vietnam. The textile complex will have spinning, weaving, dyeing and sewing facilities, and on completion the project is expected to contribute to increased exports from the country.
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 28th May 2016

US to rethink on inclusion of Indian PET in GSP

With the US set to rethink the inclusion of polyethylene...

Textiles | On 28th May 2016

China’s textile exports marginally down in Jan-April

The exports of textiles and apparel from China dropped marginally...

Textiles | On 28th May 2016

MMF sector seeks anti-dumping duty on Chinese fabrics

Reeling under the impact of cheap Chinese fabrics, Surat’s textile...

Interviews View All

Abhishek Ganguly
Puma India

There are quite a number of brands stepping into the sports lifestyle...

Pinkesh Jain
Everflow Petrofils Ltd

What are the latest technological innovations in the spinning industry?...

Neel Sawhney
One Friday

What is the overall size and growth of the market for kidswear in India?...

Ashok Desai
Bombay Textile Research Association

<b><i>Bombay Textile Research Association (BTRA) is a leading name in...

Marten Alkhagen
Swerea IVF AB

<b><i>Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles...

Johan Berlin
InvestKonsult Sweden AB

<i><b>Investkonsult Sweden AB has been buying and selling second-hand...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
May 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search