50 firms dress for success at garment awards
\nVietnam Economic Times, Vietnam<\/p>\n
<\/p>\n
Fifty companies have been selected for the fourth annual “Outstanding Enterprises in Vietnam\u00e2\u20ac\u2122s Textile-Garment Industry” awards, reflecting the country\u00e2\u20ac\u2122s fast growing apparel market.<\/p>\n
Co-organised by the Viet Nam Textile and Apparel Association (Vitas) and Thoi Bao Kinh Te Sai Gon (Saigon Economic Times Newsmagazine), a subsidiary of the Sai Gon Times Group, this year\u00e2\u20ac\u2122s event honours the greatest number of companies. When it was first held in 2004, only 18 companies were nominated.<\/p>\n
Such a fast increase in the number of winners is justified by the rapid development of the industry, say organisers.<\/p>\n
Apparel exports increased to US$5.9bil last year compared to $4.8bil in 2005. Exports this year are expected to reach $7.3bil, according to organisers.<\/p>\n
“A higher number of participants and better year-on-year business performances contributed in part to more winners,” says Le Tu Quynh Dung, a representative of the organising committee.<\/p>\n
“The awards will help garment makers improve their prestige in the local and international markets, and improve the overall image of Vietnam\u00e2\u20ac\u2122s textile and garment industry worldwide.”<\/p>\n
The competition based its decision on 10 criteria. All businesses listed in the final round must show certificates issued by tax offices on financial statements.<\/p>\n
For the “good IT application” criterion, Vitas entrusted a team of experts to assess competitors technology.<\/p>\n
Viet Tien Garment Corp ranked first in the competition for the fourth consecutive year.<\/p>\n
Viet Tien Garment reported VND1.7tril ($104mil) in domestic sales and $153mil in exports last year, and boasted a network of over 1,000 outlets nationwide.<\/p>\n
The joint venture Coats Phong Phu joins the leader board for the first time, beating much larger corporations.<\/p>\n
Coats Phong Phu is considered one of the most efficient companies with pre-tax profits of VND160bil in 2014 and a return on equity rate of 45%.<\/p>\n
There were four newcomers to the top ten list: Thai Tuan, Thanh Cong, Song Hong-Nam Dinh and Scavi.<\/p>\n
The well-known Ha Noi Textile-Garment Corp dominates northern Vietnam, with 2014 sales amounting to VND1.7tril. However, due to a low efficiency rate, it failed to make the top ten.<\/p>\n
In the environmentally friendly category, companies had to meet two conditions: ISO 14000 certification and confirmation of environmental protection measures.<\/p>\n
Only Viet Tien and Coats Phong Phu scored tens in the environment category, while all other companies scored five or below.<\/p>\n
An awards ceremony will be held at the Ha Noi Opera House on November 4.<\/p>\n","protected":false},"excerpt":{"rendered":"
50 firms dress for success at garment awards Vietnam Economic Times, Vietnam Fifty companies have been selected for the fourth annual “Outstanding Enterprises in Vietnam\u00e2\u20ac\u2122s Textile-Garment Industry” awards, reflecting the country\u00e2\u20ac\u2122s fast growing apparel market. Co-organised by the Viet Nam Textile and Apparel Association (Vitas) and Thoi Bao Kinh Te Sai Gon (Saigon Economic Times […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\n