On December 25, Vinatex reviewed its 2024 performance and presented its 2025 strategies at a conference held in Hanoi. According to Vinatex General Director Cao Huu Hieu, Vietnam is expected to surpass India as the world’s second-largest exporter of clothing and textiles, with planned shipments of US$44 billion this year.
The company placed a strong emphasis on sustainable development using ESG (environment, society, governance) principles. Plans include digital transformation, advanced governance models, and integrating automation and AI to reduce labor dependency.
Although there was some growth in the first half of 2024, political upheaval in rival countries caused a spike in orders in the second half. Vinatex’s profits increased 37.5 percent to 740 billion VND, while its consolidated sales reached 18.1 trillion VND (US $724 million), a 2.8% year-over-year rise. The average monthly salary for employees increased by 8.9% to 10.3 million VND. To enhance business resource management, the team has focused on developing innovative filament core yarns and blended fibers, while also implementing an enterprise resource planning (ERP) system.
Furthermore, they have organized seminars and conferences on Environmental, Social, and Governance (ESG) practices and sustainable development. To establish a model green textile industry, the company is investing in the construction of a second wastewater treatment plant at the Pho Noi Textile and Garment Industrial Park in Hung Yen Province. This new facility will complement the existing plant, which has a daily capacity of 10,000 cubic meters.
