Vietnam further increases textile exports

Vietnam’s “People’s Daily” reported on June 11 that Vietnam’s textile and clothing exports totaled US$18.7 billion in the first five months of this year, a year-on-year increase of 23.5%. This reflects the company’s efforts in investing and increasing exports of goods.

It is expected that the unpredictable market and the rising prices of raw materials and excipients will be a huge challenge for enterprises.

Therefore, companies need to flexibly and simultaneously implement multiple measures to promote growth and achieve established goals.

Duan Van Yong, Director of the Organization Department and Chairman of the Labor Union of Vietnam’s Nam Dinh Textile Joint Stock Company (Natexco), said that due to the implementation of a number of powerful solutions, the company has achieved success this year Impressive operating performance was achieved in the first half of the year, with revenue reaching approximately VND 1.023 trillion, reaching 101% of the annual plan and 123% of the same period last year. The company’s orders are currently fully booked until the end of September, or even the end of the year.

This is a huge effort by the company in the context of the adverse impact of the new coronavirus epidemic.

The deputy general manager of Yuesheng Corporation said that in the first quarter of this year, the company overcame various difficulties and challenges and achieved good operating results, with revenue reaching 25% of the annual plan. , the profit reached 35% of the annual plan.

Le Tien Truong, chairman of Vietnam Textile Group (Vinatex), said that the group achieved gratifying results in the first quarter of this year, with operating efficiency increasing by nearly 75% year-on-year and total revenue increasing year-on-year. Nearly 50%. However, there were also many bad signals in the first quarter of this year, which brought many difficulties to Vinatex and even the Vietnamese textile industry, such as: geopolitical risks including the Russia-Ukraine conflict, relations between Russia and the West, and soaring raw material prices and transportation costs. Therefore, companies must develop flexible solutions to respond and adapt to market conditions in a timely manner, thereby proactively increasing commodity production and exports.

In order to further increase commodity exports, enterprises need to continue to invest in expanding production sites, prepare sources of supply of auxiliary materials, proactively meet the requirements of relevant rules of origin, and do a good job Opportunities brought by various new generation free trade agreements.

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