The Vietnam National Textile and Garment Group (Vinatex) expects export turnover to rise up to eight per cent in 2019. Vinatex is the largest textile maker in Vietnam. The group is striving for a five per cent increase in industrial production, seven per cent growth in revenue, and 12 per cent hike in profit. Its exports rose 10.9 per cent in 2018. Industrial production value was up 9.7 per cent against the previous year. Total revenue rose 6.6 per cent.

Although the group has secured orders until the end of the first quarter of 2019, input costs are a challenge. Minimum wage is forecast to expand 5.3 per cent, resulting in a rise in social insurance premium and labor cost. Meanwhile the group has paid due attention to the quality of orders and customers and aims at being among the top five producers in Vietnam. Besides investing heavily on modern machines and equipment that meet international standards to manufacture excellent products, the group will channel focus on improving labor productivity and increasing workers’ income. Garment and textile firms in Vietnam are encouraged to join hands with their customers and partners to set up a value chain to overcome difficulties.