VINATEX earns nearly 3 million USD in first quarter
04/18/2014 — 21:50(GMT+7)/Viet Nam News Agency, Vietnam
Ha Noi (VNA) – The Viet Nam Garment and Textile Group (Vinatex) posted revenue of 47 billion VND (roughly 2.93 million USD) in the first quarter of 2014, a 104 percent increase over the corresponding period last year.
The Viet Tien company led the six Vinatex members, hitting 10 billion VND, followed by Nha Be company with 7.2 billion VND and Det Phong Phu with 6.4 billion VND.
Under Vinatex’s estimations, there remain a lot of challenges confronting domestic textile and garment enterprises such as capital shortages, the fluctuating labour market and the upward trend in the prices of input materials.
It is very likely that U.S market export quotas will not meet demand of many enterprises. Automatic visas granting for eight high-demand categories has been suspended.
The group is pushing up the construction of garment and textile material trading centres in Ha Noi and Ho Chi Minh City, and plans for the expansion of affiliate fashion and trading companies at home and abroad. In a wish to popularise its trademark, Vinatex will jointly organise a fashion fair, the VFF, in July 2014.-Enditem
