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Vietnamese companies upgrading businesses with TPP in sight

Vietnam's garment businesses have ramped up investments in upgradation of their units and improving product and design quality in the light of the benefits launched by the Trans-Pacific Partnership (TPP) recently. Though there are many other sectors expected to benefit from TPP, the garment and textile industry is supposed to be the biggest beneficiary of this partnership. In fact, the growth results of six garments and textile companies listed on the stock exchange reveals all six clocked a promising growth rate in terms of revenue and profits in the second quarter of this year.

These companies with a year-on-year growth of 20.74, generated around $79.9 million revenue in Q2. With a net revenue of nearly $32.4 million,Thanh Cong Trade Investment and Garment Joint Stock Company topped the list of companies generating high revenues. The firm is infusing about $30 million during the next four years in its weaving and dying garment segment. The firm was followed by TNG Trade and Investment Joint Stock Company, which clocked a net revenue of $22.2 million.