Vietnam National Garment and Textile Group (Vinatex) will ask for the Government’s permission to export anti-virus products as a measure to overcome difficulties caused by the novel coronavirus (COVID-19) pandemic.
Việt Nam’s textile and garment industry was likely reach its target of US$40 billion in export turnover this year despite facing difficulties in some markets.
The Viet Nam National Garment and Textile Group (Vinatex) has targeted a 12 per cent profit increase this year despite various challenges arising from the US-China trade war.
Viet Nam National Garment and Textile Group (Vinatex) posted revenue of nearly VND48.7 trillion (US$2.08 billion) and pre-tax profit of VND1.53 trillion in 2018, a year-on-year increase of 6.6 per cent and 6.2 per cent, respectively.
Viet Nam National Textile and Garment Group (Vinatex) has completed 65 per cent of the yearly target set for total revenues with its eight-month result (excluding VAT) reaching over VND31.45 trillion (US$1.34 billion).
The Bank for Investment and Development (BIDV) has signed an agreement
providing a VND1.9 trillion (US$90.5 million) loan for three projects in
the central Quang Binh Province.
The Viet Nam National Textile and Garment Group (Vinatex) will commence
the construction of a factory complex in the central Quang Nam Province
on March 25.
The garment sector exported accessories for the first time last year,
after decades of importing accessories as inputs, according to the Viet
Nam Garment and Textile Group (Vinatex).