Vietnamese firm Viet Tien targets $1 bn in exports by 2020

15 Feb '18

1 min read

Vietnamese garment-textile firm Viet Tien Garment JSC has set a target of grossing $1 billion in export turnover by 2020 with an annual average growth of 10 per cent, according to its director general Bui Van Tien. The company will take steps to improve the efficiency of its projects, expand investment and shift toward green production to realise this goal.

The company will invest in new production technologies, particularly automation, and business administration, expand human resources training and improve workers’ living standards by upgrading the pay structure, according to a news agency report from Vietnam.

It plans to launch emulation campaigns to enhance productivity, encourage thrift practice, increase value-addition and focus on developing brands and distribution channels, trying to become a multinational economic group.

Last year, Viet Tien earned $627.1 million in revenue. Pre-tax profit hit nearly $30.7 million, while export turnover was estimated at $871 million, of which revenues from the Japanese market made up 32 per cent, the United States 22 per cent, and the European Union 17 per cent. (DS)

Fibre2Fashion News Desk – India

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