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Apparel exporter Garco 10 expresses optimism for 2017
Feb '17
Despite the unclear prospects of the Trans-Pacific Partnership Agreement (TPP), Vietnamese apparel producer, Garment 10 Corporation (Garco 10) has set a target of reaching revenue of VND 3.1 trillion or $137 million for 2017, up 6.3 per cent over 2016. The company has also forecast to achieve net profit of VND 62.5 billion and also pay a 15 per cent dividend.

Nguyen Huyen, general director at Garco 10 expressed optimism while sharing these figures, despite the prospects of slowing down of apparel export demand and USA withdrawing from the TPP.

“In order to meet the challenges of weakening in export demand, Garco 10 and its subsidiaries will try to reduce production costs, to make Garco 10 more competitive in the export markets,” Vietnamese media reported.

The company plans to invest in the latest technologies and improve skills of workers, and thereby enhance productivity in 2017. (AR)

Fibre2Fashion News Desk – India

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