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Major Vietnamese textile maker commits to trimming costs
18 Feb '12
1 min read
A major Vietnamese textile and clothing producer and exporter has committed to reducing production costs across its textile value chain.
This announcement comes following the guidelines introduced by the Ministry of Finance to reduce production costs.
Vietnam National Textile and Garment Group (Vinatex) has set a target to trim managerial and production costs by 9 percent.
This in turn will help increase net profits to VND1.6 trillion (US$76 million).
As part of this initiative, Vinatex will implement advanced management methods to reduce capital, inventory, salary and energy costs.
This announcement comes following the guidelines introduced by the Ministry of Finance to reduce production costs.
Vietnam National Textile and Garment Group (Vinatex) has set a target to trim managerial and production costs by 9 percent.
This in turn will help increase net profits to VND1.6 trillion (US$76 million).
As part of this initiative, Vinatex will implement advanced management methods to reduce capital, inventory, salary and energy costs.
Fibre2fashion News Desk - India
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