In the first quarter, Vinatex earned a pre-tax profit of 376.7 billion VND (16.4 million USD), equivalent to 173.9 percent of the amount recorded in the same period last year.

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Growth was seen in both textile and garment industries. Specifically, the textile industry increased 139 percent, while the garment industry rose 167 percent over the same period last year.

Vinatex General Director Cao Huu Hieu attributed the growth to the good control of Covid-19, enabling businesses to deliver the orders they received from 2021 and accept more orders, along with stable prices of cottons and labour cost.

This year, Vinatex plans to speed up digital transformation to improve its operating efficiency, he said.

Vinatex has completed 63 percent of its yearly target in textile production, while its garment has recovered to the same situation as the pre-pandemic period, said Le Mac Thuan, Vinatex’s Deputy General Director.

Vinatex’s garment companies in the south have enjoyed revenue growth of 1.2-1.5 times and even 2 times over the same period last year, he said.

He added that foreign partners have returned to Vietnam with big orders.

In the time to come, Vinatex will finalise procedures to invest in two industrial clusters for garment and textile industry in Thanh Hoa and Thai Binh.

Garment exports likely to reach $38 bln

Vietnam may gain $6 billion from garment and textile exports in November and December, totaling $38 billion in this year's turnover, stated Vietnam Textile and Apparel Association (VITAS).

Big garment makers see stable orders, want to hire more workers

Large garment companies in Vietnam are still looking to recruit more workers as they continue to see stable orders, with some having orders until April 2022, according to Navigos Search.

Vietnam becomes second largest garment exporter

Vietnam has surpassed Bangladesh as the world’s second largest exporter of ready-made garments (RMG), Fashion United, an international B2B fashion platform, quoted the World Trade Statistical Review 2021 released by World Trade Organization (WTO).

Garment and textile exports soar 15% to reach US$12.2 billion in five months

Vietnam’s garment and textile exports were estimated to have reached US$12.2 billion in the first five months of 2021, up 15% over the same period last year, according to the Ministry of Industry and Trade (MOIT).

Bac Giang: Garment and textile enterprises recover production

(BGO) - In the first quarter of 2021, as the Covid-19 pandemic calmed down, the export turnover of the textile and garment industry was still modest but showed signs of recovery. This is a positive signal that contributes to boosting export activities in Bac Giang province.

Source: NDO/VNA