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Exporters lay groundwork for 2009
Despite the global financial crisis that is seriously affecting the country’s economy, many exporters are in reasonable shape, thanks to their good preparations.
More than 15,000 workers at the Thai Binh Footwear Joint Stock Co, for instance, have begun to execute this year’s business plan, which targets export value of over 100 million USD.
“A few years ago, the company invested 5 million USD in installing a complete production line,” Nguyen Duc Thuan, general director of the country’s biggest footwear exporter, said.
It employs 400 designers who create 35,000 models for all four seasons every year based on demand in importing markets.
Thai Binh sells directly to four large importers in the US and Japan .
The footwear industry also came under pressure last year from an EU anti-dumping tax on leather shoes. Vietnamese companies quickly switched to other kinds of footwear lilke sports shoes and fashion shoes for women and children. They achieved total exports of 4.8 billion USD, or a fifth higher than in 2007.
Textile and garment industry has seen export contracts and prices fall by 20 percent due to the recession. Many companies are cutting their margins while others are eyeing the local market.
According to the general director of the Vietnam Textile and Garment Corporation, Vu Duc Giang, the industry would explore new markets like the Middle East and Africa this year.
The signing of a bilateral trade agreement with Japan would help garment firms export to the East Asian country.
The corporation plans to open 20 more supermarkets around Vietnam .
For the Sai Gon 3 Garment Joint-stock company y, export was up 80 million USD and profits 20 percent last year.
“We carried out many cost-cutting campaigns and maintained our quality,” Pham Xuan Hong, general director of the company said.
In 2009, its turnover target remains unchanged from last year, but it eyes 20 percent lower profits.
Leading exporter Viet Tien Garment Company has a brand name trusted in many foreign markets. The company has thus managed to sign several major deals, targeting a 10 percent increase in exports to 190 million USD.
Viet Tien will also launch more luxury and popular products in the local market this year. It will soon hire 500 workers who have been laid off by other garment companies.
vna
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