Viet Tien Garment JSC, one of the leading companies in the garment-textile industry in Viet Nam, has set a goal of grossing US$1 billion in export turnover by 2020 with an annual average growth of 10 per cent.

To realise this target, the company will take measures to improve the efficiency of investment projects, expand investment and shift towards green production, vietnamplus.vn quoted its general director Bui Van Tien as saying.

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

The company will launch campaigns to enhance productivity, encourage efficient practices, and increase the added value of products, as well as improve income and working conditions for employees while developing brands and distribution channels, striving to become a multinational economic group.

Last year, Viet Tien earned VND14.1 trillion ($627.1 million) in revenue, up 11.4 per cent. Of which the parent company recorded VND8.29 trillion, up 12 per cent and its subsidiaries grossed VND794 billion, up 1.5 per cent.

Pre-tax profit hit nearly VND695 billion, while export turnover was estimated at $871 million, of which revenues from the Japanese market made up 32 per cent, the US 22 per cent, and the EU 17 per cent. — VNS