Viet Tien garment firm targets US$1 billion 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 US$1 billion in export turnover by 2020 with an annual average growth of 10%, according to Director General Bui Van Tien.
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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 administration.
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 VND14.1 trillion (US$627.1 million) in revenue, up 11.4%. Of which the parent company recorded VND8.29 trillion (US$368.6 million), up 12% and its subsidiaries grossed VND794 billion (US$35.1 million), up 1.5%.
Pre-tax profit hit nearly VND695 billion (US$30.7 million), while export turnover was estimated at US$871 million, of which revenues from the Japanese market made up 32%, the US 22%, and the EU 17%.
The average income of workers was VND8.9 million (US$393.3), up 1.7%.
