Phong Phu Corp celebrates 50th anniversary

10 Oct '14

2 min read

Phong Phu Joint Stock Corporation, one of the leading corporations of Vietnam textile industry, is celebrating 50th anniversary of its inception on October 14, 1964.

On the occasion, Pham Xuan Trinh, general director of Phong Phu, said during the 50 years of progress and development, Phong Phu is proud of the results it has achieved and the company continues to be one of the leading enterprises in Vietnam.

The company’s development has been possible due to continuous application of technical innovations, investments in innovative equipments and technology for production in a cost-effective manner, said Xuan Trinh.

Building good relationships with customers and continuously strengthening the same has been a longtime tradition of the company, which helped it to raise export sales.

Over the next five years, Phong Phu plans to increase investment in production of home textiles and towels, in order to take advantage of the opportunities that would come in view of the upcoming Trans-Pacific Partnership (TPP) agreement.

In 2015-16, Phong Phu will invest in 2 large-scale textile plants in Nha Trang and Le Minh Xuan Industrial Park. Moreover, this month, the company is launching a leasing company in joint venture with a Japanese firm for supplying towels, robes, blankets, drapery, etc. to high-end hotels.

The completion of 50 years marks beginning of a new phase for Phong Phu, which now eyes to reach US$ 1 billion in revenue by 2020, Xuan Trinh said. (RKS)

Fibre2fashion News Desk - India

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