Vinatex turnover increases in 2012
(VOV) - The Vietnam National Textile and Garment Group (Vinatex) earned US$2.6 billion from exports in 2012, a year-on-year increase of 16 percent.
This was an impressive export growth compared to the 8.5 rate obtained by the whole garment sector.
Despite the domestic economic slowdown, its total revenue rose 16 percent over 2011, hitting nearly VND41 trillion and exceeding the annual plan by 2 percent.
The figures testified the group’s all-out efforts in maintaining production and increasing product quality in the context of low demands from big markets like the US, the European Union and Japan.
The group shifted to the domestic market, by opening nearly 20 new Vinatext Marts in 2012, bringing the total number of its retail distribution agents across the country to 80.
At a review conference on January 8, Vinatex’s Deputy Director General Le Tien Truong said in 2013 the group aims to achieve a growth rate of 12 percent over 2012.
He revealed that Vinatext has received bulk orders from its importers in the first and second quarters of 2013.
To fulfil the set target, the group will give priority to accelerating the equitisation of its parent company – Vinatext – and prepare for an initial public offering (IPO) in the second quarter of this year.