The local garment industry has considerably developed in the past few years. Many new projects were implemented and most garment manufacturers signed export contracts with foreign partners.
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An Nhon garment JSC’s workers are at work. Photo N.T
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Thanks to the advantages of manpower and business premises, the local garment industry has strongly developed. Many investors have poured their capital into Binh Dinh after being offered preferential policies.
Six more garment projects have been implemented and operated since 2005 with the total capital of VND308.7 billion. Among them, there are some typical garment companies, such as Binh Dinh Garment Joint Stock Company, Able Vietnam, Vinatex Da Nang, An Nhon Garment JSC, and Tam Quan Garment JSC.
At present, Binh Dinh has become one of garment hubs nationwide.
According to experts, Binh Dinh has many opportunities to further develop the garment industry as the market scale and the management capacity of garment businesses’ leaders has quickly improved in recent years.
The province’s garment industry is, thus, required to double develop until 2015.
More garment factories are expected to be built across the province from now to 2015. At present, three projects have being implemented in Quy Nhon city and Phu Cat district with the total capital of VND491 billion, including Phu Cat complex, Quy Nhon II garment factory, TLC Co., Ltd’s garment factory.
More and more garment companies are determined to strengthen their competitiveness capacity, expand the markets, and improve their employees’ living standard.
The province’s garment sector has speeded up their production during the first months of 2011, aiming to meet the deadline of signed contracts.
The Binh Dinh Garment JSC signed an export contract until November, according to Truong An Tuan, a company’s official. Its export turnover is estimated to reach US$6 million, a double increase over 2010. Its employees’ income has, therefore, also increased.
Alongside Binh Dinh Garment JSC, most of local garment businesses signed their own contracts until the second quarter of 2011, let alone some companies having export contracts for the whole year.
Their main markets are European countries, the US, Japan, Mexico. Their export turnover reached US$4.4 million in 2010, an increase of 30 percent against 2009 and the figure is estimated to be doubled this year.
The garment companies signed more contracts as they have increased their production capacity, meeting the foreign partners’ requirements, according to functional bodies.
This is an opportunity for the garment industry. When attracting more customers, businesses are able to select good orders, increase their profit, and ensure their employees’ income.
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