Thanh Cong textile firm aims for 21% after-tax profit growth in 2024
Thanh Cong Textile-Garment Investment Trading JSC (TCM) is targeting VND3.7 trillion ($148.2 million) in revenue and VND161 billion ($6.45 million) in after-tax profit in 2024, up 12% and 21% year-on-year, respectively, said CEO Song Jaeho.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
ASEAN, China, Hong Kong cooperate for first time in textile industry
The China National Textile and Apparel Council, the ASEAN Federation of Textile Industries (AFTEX), the Textile Council of Hong Kong, and the Hong Kong General Chamber of Textiles (HKGCOT) signed their first memorandum of understanding on cooperation at a ceremony in Hong Kong on Thursday.
Southeast Asia - Mon, Dec 22, 2021 | 11:30 am GMT+7
Chinese textile supplier Weixing launches $62 mln plant in central Vietnam
SAB Industrial (Vietnam) Company Limited, under Chinese textile material supplier Weixing, launched a $62 million factory in Vietnam’s central province of Thanh Hoa on Wednesday.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Apparel giant Crystal opens first phase of $70 mln factory in northern Vietnam
Regent Garment Factory Ltd., under Hong Kong-based clothing manufacturer Crystal International, opened the first phase of its $70 million factory in Vietnam’s northern province of Hai Duong on Thursday.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Nam Dinh province licenses Crystal-invested $60 mln textile-garment project
The industrial parks management board of Nam Dinh province in northern Vietnam has granted an investment registration certificate for a $60 million foreign-invested textile and garment project.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
The rise and fall of garment firm Garmex Saigon
From a peak of nearly 4,000 employees and revenues of over VND2 trillion ($82 million), textile firm Garmex Saigon has slipped to no orders and just 35 personnel.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Apparel giant Crystal eyes $200 mln investment in northern Vietnam
Hong Kong-based group Crystal International plans to invest $200 million in Vietnam’s northern province of Nam Dinh to manufacture cloth, fiber, and garments.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Thanh Cong textile firm set for return to full capacity operations: chairman
Thanh Cong Textile-Garment Investment Trading JSC (TCM) has received enough orders for Q1/2024 to operate at full capacity after stagnating for a year, said chairman Tran Nhu Tung.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Taiwanese footwear maker readies $62 mln for Vietnam Lunar New Year bonuses
PouYuen Vietnam, a Taiwanese footwear maker with the largest workforce in Ho Chi Minh City, will give Tet (Lunar New Year) bonuses worth VND1,505 billion ($61.8 million) to its employees.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
German yarn maker Sudwolle subsidiary to raise Vietnam investment to $51.6 mln
Dalat Worsted Spinning (DWS), under German yarn maker Sudwolle, has received approval to raise its investment in a sheep wool yarn spinning factory in the Central Highlands province of Lam Dong to $51.6 million.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Orders abundant, Viet Tien Garment needs 1,000 plus workers
Amidst difficulties for the textile industry, Ho Chi Minh City-based Viet Tien Garment Corporation is bucking the trend, looking to hire more than 1,000 workers to fulfil orders.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Australian wool producers show interest in northern Vietnam investments
Members of the Wool Producers Australia association are willing to relocate some of their investments to Vietnam, particularly the northern province of Nam Dinh.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam maintains position as biggest Nike supplier
Vietnam remained the biggest supplier of the U.S.-based footwear and apparel giant Nike in fiscal year 2023 ending May 31, according to a Nike report.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam’s FDI sector posts $34 bln trade surplus in 8 months
Foreign-invested enterprises (FIEs) in Vietnam recorded a trade turnover of $301.36 billion, including crude oil, resulting in a trade surplus of $34.21 billion in the first eight months of this year.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Singapore firm invests $29 mln in northern Vietnam fiber project
Singapore’s Sanbang PTE. Ltd. has been licensed to invest $28.7 million in a fiber project in Nam Dinh province.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Japan-invested textile firm opens $9.5 mln factory in Nghe An province
Japan-invested Koyu Textile Vietnam Limited Company inaugurated Wednesday a VND227.4 billion ($9.57 million) factory in the central province of Nghe An.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam FDI sector posts $27.8 bln trade surplus in Jan-July
Foreign-invested enterprises in Vietnam recorded a trade turnover of $258.63 billion, including crude oil, resulting in a trade surplus of $27.83 billion in the first seven months of this year.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam FDI sector posts $22 bln H1 trade surplus
Foreign-invested companies in Vietnam recorded a trade turnover of $220.2 billion, including crude oil, for a trade surplus of $22.06 billion in the first half of this year, according to the General Statistics Office.
Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7
Taiwan textile giant plans additional $250 mln investment in southern Vietnam
Far Eastern Polytex Vietnam, a Taiwan-invested textile firm, will invest an additional $250 million in Binh Duong in Q3/2023, making it the southern province’s biggest foreign investor.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Formosa Ha Tinh Steel suffers 2022 loss of $320 mln in Vietnam
Formosa Plastics Group’s turnover from its Vietnam activities fell 12% year-on-year to TWD158.1 billion ($5.1 billion) in 2022, and Formosa Ha Tinh Steel posted a loss of TWD10 billion ($322 million), according to the Taiwan-based giant’s annual report for last year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
German yarn maker Sudwolle launches $50 mln Vietnam factory
Leading German yarn maker Sudwolle has inaugurated a $50 million sheep wool yarn spinning factory in the Central Highlands province of Lam Dong.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Going green is life-or-death demand for Vietnam’s clothing sector: industry association
Rapidly shifting to green production to ensure green exports and achieve sustainable development is extremely important for Vietnam’s apparel sector as the whole world is demanding sustainability from the industry, the Vietnam Textile and Apparel Association (VITAS) said on Friday.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
China’s reopening a double-edged sword for Vietnam’s textile sector
As China reopens its economy, Vietnam’s textile-apparel sector will have the opportunity to start exporting to its northern neighbor again, but will also face competition from its main export rival to the U.S. market.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam textile firm Unitex secures $52.5 mln loan from 5 foreign banks
Unitex Corporation, a subsidiary of local textile firm Century Synthetic Fiber Corp, has secured a $52.5 million loan from five leading Asian banks to expand one of its factories.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Textile giant Vinatex's 2022 profit shrinks 19%
Vietnam's largest textile and garment maker Vinatex reported an after-tax profit of VND1,069 billion ($45.58 million), down 19% year-on-year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
National textile group Vinatex sees year profit up 15% to $46 mln
Vietnam's largest garment maker Vinatex has estimated a consolidated profit of VND1.09 trillion ($46.22 million) in 2022, up 15% year-on-year and exceeding the year target by 14.6%.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam seeks to make clothing industry greener to grow exports
The Vietnamese apparel sector is embracing green production, sustainability, and circularity to further fuel green exports and keep sharpening its competitive edge.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Textile, garment exports inch up to $43 bln despite global demand decline
Vietnam’s garment industry estimates its 2022 export value at some $43 billion, compared to $40.4 billion last year, despite a sharp decline in orders in the second half of the year.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Vietnam needs bonded warehouses for US cotton imports
Building a Vietnam bonded warehouse for U.S. cotton would benefit both countries, Vietnam Textile and Apparel Association (Vinatas) chairman Vu Duc Giang said Friday.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Textile association seeks more investments in dyeing
The government should approve the development strategy until 2030 for the footwear and apparel sectors in order to boost investments in dyeing, ensuring supply of critical input materials.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Textile tech provider NTX grabs $200 mln investment for Southeast Asia expansion
Textile tech firm NTX, which works out of Shanghai and Singapore, has secured an investment of almost $200 million to fuel its growth and meet the rapidly rising demand of its expanding customer base.
Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7
Textile firms see mixed performance in Q2
In contrast to a sector-wide pickup in the first quarter of 2022, Vietnamese textile and apparel companies saw mixed performance in the second quarter.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
National textile group Vinatex earns $42 mln in H1 profit
Vinatex, the largest Vietnamese garment maker, earned a pre-tax profit of VND980 billion ($42 million) in the first half of the year, up 55.6% year-on-year and exceeding the whole year’s target by 3%.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
Low foreign demand to hold back Vietnamese textile
Although Vietnam's textile and garment exports were riding high in the first half of the year with growth of 22%, insiders are pessimistic that the rest of 2022 would not match up.
Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7
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