2024: The secret for Vinatex to reach growth targets

Vinatex's consolidated revenue in 2024 will reach VND18,100 billion, up 2.8%, but consolidated profit is estimated at VND740 billion, up 37.5% compared to 2023, the average income of employees will reach VND10.3 million/person/month, up 8.9% compared to 2023.

Taking advantage of opportunities to create momentum for breakthroughs

This achievement is because Vinatex was flexible in management, solidarity and high consensus of the collective, and also implemented synchronous solutions such as: Continuing to promote the implementation of the supply chain development strategy to become a package destination, bringing the product development center and Vinatex fashion business into operation on the basis of consolidating Vinatex fashion business center; Exploiting new markets and niche markets with special and high -tech products such as fabric and fire -proof costumes (business cooperation with Coats Group, Kingdom of England), research and development of new filament core fibers, new phase fibers; Thoroughly implementing the enterprise resource management system on the digital platform (ERP); Continuing to implement activities on sustainable development in textile and apparel businesses to meet the requirements of green textile industry such as: organizing conferences/seminars on sustainable development, ESG reports - environment, social and management; Direct the investment in additional wastewater treatment plant No. 2 with a capacity of 8,000 m3/day and night next to the No. 1 wastewater treatment plant with a capacity of 10,000 m3/day and night for textile and dyeing industry in Pho Hung Yen Pho Pho Textile Industry Park, towards building a model green textile park in the Northern region ...

In addition, it is necessary to innovate management methods and evaluate capital representatives in enterprises, thereby creating a network of connections between units in the Group through capital representatives to share market information and management experience. In particular, persevere in the chain linkage strategy because all assessments show that chain operations are more effective.

The Garment Production and Business Department has implemented many solutions to support units in difficulty to improve operational efficiency such as restructuring operations; mobilizing human resources for management, rearranging labor, changing income to attract labor; recruiting and training market personnel... Market forecasting work has been carried out regularly and promptly; production management and active operating systems at each unit, especially implementing many production management solutions with clear results for weak garment units; organizing and restructuring a number of factories, surveying and evaluating production systems and machinery and technology equipment at initial units were effective... The Fiber Business Department has changed the way of coordination to carry out the production and business tasks of the Group, thereby helping to increase the level of financial loss; helping to increase the level of production and business capacity after 2 years of operation; helping to increase the level of financial capacity to pay more than the level of financial capacity of the new unit.

Efforts to care for and retain workers

In addition to special points about orders, in 2024, the textile and garment industry faced great fluctuations in labor last year, one of the reasons being that a number of textile and garment workers chose to go abroad to work. In that context, Vinatex has proactively trained, fostered, and effectively used existing labor resources.

In its role, the Vietnam Textile and Garment Trade Union accompanies and shares with businesses, takes care of jobs and lives of workers, maintains harmonious, stable and progressive relationships, and contributes to the overall results of the Group. Notable are the activities of negotiating and signing the 6th collective labor agreement of the industry, establishing new and more progressive content than the provisions of law; seeking and signing agreements with domestic brands to provide quality products at preferential prices, bringing many practical benefits to workers; coordinating with the Group to organize the 6th Textile and Garment Creative Labor Festival with content to protect the theme of solutions, displaying creative models and models with the theme "greening and sustainable development". From more than 1,700 initiatives applied, profiting nearly 58 billion VND at the grassroots level, 73 topics were selected to make it to the final round to organize protection, introduction, and sharing at the Festival. Honoring "Enterprise for Workers" and awarding the "Nguyen Thi Sen" Award to 10 outstanding female employees. Selecting and honoring 26 outstanding Textile and Garment families. Open 26 training classes, improve qualifications and skills for 918 workers in 15 enterprises....

prospects for 2025

2025 has many important milestones for the country: the 80th anniversary of the founding of the country and more especially with the orientation of "the country enters a new era, the era of national growth", the year of holding Party congresses at all levels.... ; also the year marking Vinatex's 30th anniversary (1995-2025). To carry out this especially important task, Vinatex will develop sustainably on all four pillars of environment - society - governance and finance (ESGF), have a solid position in the global textile supply chain, possess its own competitive strength through the application of new technology and special products, have a corporate culture that selectively combines the humanistic traditions of previous generations and science and modernity towards today's workers.

At this time, many businesses have orders until the end of the first quarter of 2025, while some businesses have orders until April and May 2025. The problem is to recruit new workers to ensure input quality, while retaining workers at both high, medium and high levels in the context of increasing labor competition pressure. To do so, Vinatex and its units must ensure jobs and income, gradually improve the material and spiritual life and development opportunities for workers.

On the eve of the new year 2025, the Vietnam Textile and Garment Trade Union will coordinate with the Group to organize the Tet Sum Vay Program - Workers' Day - Market of Love at many locations across the country with the following contents: Selling essential items at preferential prices, giving gifts to workers in difficult circumstances, supporting buses, charity tickets to take workers home to celebrate Tet, along with many other side activities such as: cultural and artistic activities, Chung cake wrapping competitions and displaying fruit trays, etc.

Ms. Pham Thi Thanh Tam - Chairwoman of the Vietnam Textile and Garment Trade Union said: This year's program is held at 5 locations: Ho Chi Minh City Cluster at Viet Thang Corporation - JSC from December 16-18, 2024; Ho Chi Minh City Cluster at Phong Phu Joint Stock Corporation from December 19-21/2024; Thua Thien Hue Cluster at Hue Textile and Garment Joint Stock Company from December 21-22/2024; Da Nang Cluster at Hoa Tho Textile and Garment Joint Stock Corporation from December 20-21/2024; Nam Dinh Cluster at Nam Dinh Textile and Garment Joint Stock Corporation from January 9-11/2025.

According to the plan, over 1,990 cadres, union members and workers will receive Tet gifts in cash and in kind from the industry union; 655 workers will be supported with tickets to return home to celebrate Tet; there are 129 discount booths, 0 VND booths, the benefits for workers are expected to be over 4.5 billion VND (excluding caring activities at the grassroots level).