17/02/2018 12:22 GMT+7 Email Print Like 0

Viet Tien garment firm targets one billion USD in exports by 2020

Viet Tien Garment JSC, one of the leading companies in the garment-textile industry in Vietnam, has set a goal of grossing one billion USD in export turnover by 2020 with an annual average growth of 10 percent, according to Director General Bui Van Tien.

To realise this target, the company will take measures to improve the efficiency of investment projects, expand investment and shift toward green production.

The company will invest in new production technologies, particularly automation, and business administratioin.

Apart from expanding human resources training, Viet Tien will build an advanced labour administration and improve the living standards of workers via upgrading the salary system, offering Tet bonuses and supporting poor workers.

The company will launch emulation campaigns to enhance productivity, encourage thrift practice, and increase added values of products, as well as improve income and working conditions for employees.

It will focus on developing brands and distribution channels, striving to become a multinational economic group.

Last year, Viet Tien earned 14.1 trillion VND (627.1 million USD) in revenue, up 11.4 percent. Of which the parent company recorded 8.29 trillion VND (368.6 million USD), up 12 percent and its subsidiaries grossed 794 billion VND (35.1 million USD), up 1.5 percent.

Pre-tax profit hit nearly 695 billion VND (30.7 million USD), while export turnover was estimated at 871 million USD, of which revenues from the Japanese market made up 32 percent, the US 22 percent, and the EU 17 percent.

The average income of workers was 8.9 million VND (393.3 USD), up 1.7 percent.-VNA/VNP