Domestic garment and textile firms get into gear

The Vietnam Textile and Apparel Association has reported that despite the tough economic climate, especially in major markets such as the US and Europe, almost all of Vietnam’s garment and textile firms had acquired sufficient orders, and companies have already begun working on new orders.

“The firm has acquired export orders until June. We have had to increase productivity to meet our deadlines,” said Dong Nai Garment Joint Stock Company (Donagamex) Board chairman Bui The Kich.

Kich added that Donagamex planned to recruit 1,000 workers for its existing factories and its new Dong Phuoc Garment Factory which is set to begin operations after the Lunar New Year. The company also announced VND1,350 billion ($64.3 million) in revenue and VND75 billion ($3.57 million) in profits as its 2013 targets.

Bac Giang Garment Joint Stock Company (Bagarco) also confirmed export orders for the first half of 2013.

Luu Tien Chung, deputy general director of Bac Giang Garment Company said that Bagarco was already shipping products on a daily basis and the firm’s 8,500 staff were already working at full capacity.

Chung added that Bagarco expected to achieve 10 percent growth in 2013. The company’s biggest obstacle stagnant retail sale prices despite rising input costs. “We’re looking to bolster importer confidence by increasing both productivity and quality,” said Chung.

Garment 10 Joint Stock Corporation (Garco 10) announced that despite the economic difficulties, the company was still targeting revenues of VND1,688 billion ($79.4 million), and profits of VND40 billion ($1.9 million), with average wage in the firm likely to remain at around VND4.8 million ($228) per worker per month.

“We’ve signed some large export contracts this year, so we’re concentrating on boosting productivity and reducing input costs,” said Garco 10 director Than Duc Viet.