Vinatex will strive to finalise its divestment plan from non-core businesses before the end of 2013. “Vinatex’s investment portion into non-core businesses is low compared to some other state groups. Hence, we hope our divestiture plans from investees will not be fraught with difficulties,” said Vinatex deputy director Le Tien Truong. In fact, Vinatex’s total [...]
Many Vietnamese garment brand names have gradually gained back local market share in low-cost product segments targeting average-income consumers, which used to be dominated by Chinese products. Many fashion stores on Ho Chi Minh City’s Le Van Si and Nguyen Dinh Chieu streets, which used to sell large amounts of Chinese garments, have now reduced [...]
In 2011, Vietnam’s export for apparel products was estimated to earn $13.8 billion, accounting for 16.5% of the country’s total export turnover and increasing nearly 38% from 2010, according to Le Tien Truong, deputy general director of Vietnam Garment and Textile Group (Vinatex). In 2011, Vietnam’s garment and textile sector posted a trade surplus of [...]
Vinatex’s equitisation is now expected to occur in 2012 after numerous delays. Nguyen Phuong Mai, director of Vinatex’s equitisation board, said the state-run textile and garment group was waiting for the corporate valuation report. “The report will be available in January or February 2012. After that, we will set up a detailed equitisation plan to [...]
The leather and footwear sector exceeded $1 billion in bag exports last year, leading the Ministry of Industry and Trade (MoIT) to officially prompt the industry to keep developing the product. Vietnam earned more than $1.3 billion by exporting various kinds of bags in 2011, up 33 per cent against 2010, according to the Vietnam [...]
The leather and footwear sector is making efforts to stabilise production and ensure its export growth despite many difficulties, the industry association said. According to the Vietnam Leather and Footwear Association (Lefaso), the industry’s export value in 2011 is estimated at $7.5 billion, including $6.2 billion from footwear, a year-on-year increase of 25 per cent, [...]
The textile and garment sector posted an export surplus of 6.5 billion USD in 2011, 1.5 billion USD higher than last year’s figure, according to the Vietnam Textile and Apparel Association (Vitas). The surplus has brought the industry’s localisation ratio – the percentage of materials used by textile and garment companies that are produced locally [...]
Vietnam Textile and Garment Group on December 28 reported that this year, the domestic revenue of its companies is estimated to have reached 17.2 trillion dong, growing 15% against 2010. In 2010, Vinatex’s domestic revenue reached 14.960 trillion dong. The enterprises which gained the domestic revenues of over 1 trillion dong included Phong Phu with [...]
Strong garment and textile enterprises are mulling plans to enlarge sales systems despite a difficult economy. In December 2011 alone, Vinatex launched two big supermarkets in Ho Chi Minh City and Hoa Binh province with total investment capital around VND50 billion ($2.3 million) bringing the total number of its supermarkets to about 60. Vinatex Mart [...]
The US group Nike has affirmed Vietnam as its key production base, said Nick Athanasakos, Vice President in charge of global sourcing and manufacturing. Vietnam plays an extremely important role in Nike’s manufacturing market, Athanasakos told Minister of Planning and Investment Bui Quang Vinh during his visit to Vietnam last week. According to the Nike [...]
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