Viet Tien Garment recruits thousands of workers, abundant orders

Amid the storm of difficulties surrounding the textile and garment industry, Viet Tien Garment Joint Stock Corporation (UPCoM: VGG) still has abundant orders and workers are not afraid of unemployment.

Viet Tien's order volume is abundant. Photo: Viettien

Mr. Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association in Ho Chi Minh City (VITAS), acknowledged that in 2022, export turnover reached 44.4 billion USD, an increase of nearly 10% compared to 2021. By 2023, the textile and garment industry will face many challenges due to the impact of the world and domestic economic situation, including inflation in key markets such as the United States and Europe, causing a decrease in purchasing power, a decrease in orders, high interest rates and exchange rate differences, etc. In the rather gloomy picture, there are still a few "bright spots", that is, textile and garment exports to some markets are still increasing such as: Japan, Australia, Russia, India, etc. In addition, textile and garment enterprises have also opened a number of new markets in Africa and the Middle East. This has contributed to preventing the export turnover of the textile and garment industry from falling sharply in the context of a sharp decline in purchasing power. The Chairman of VITAS said that the Vietnamese textile and garment industry in general continues to recover, with the decline in export value gradually narrowing in the second half of 2023, looking forward to a 2024 with hope of recovery, with a forecast of a "warming" market. VITAS representative said that thanks to the efforts of businesses, exports in 2023 reached about 40.3 billion USD, the target set and expected export turnover of the whole industry in 2024 reached 44 billion USD, an increase of 9.2% compared to 2023. Abundant orders for Viet Tien Garment At the recent Ho Chi Minh City job fair, a representative of Viet Tien Garment said that the company needs to recruit more than 1,000 positions in Ho Chi Minh City. The positions in need of personnel include sewing workers, sewing line managers, sewing sample workers... with income from 10 to 30 million VND/month. Responding to the press, Mr. Ngo Thanh Phat, CEO of the company, commented that the company currently has 20 factories nationwide with 31,000 workers working, orders are abundant and workers do not worry about unemployment. Currently, the average income of workers at the company is 11.5 million VND/person, deducted from social insurance, health insurance, unemployment insurance and Tet bonus... Established in 1975, Viet Tien is one of the leading names in the Vietnamese garment industry. The company is headquartered in Tan Binh district, the owner of many famous fashion brands and a partner of many major international brands such as Nike, Skechers, Converse... in the shoe industry or Uniqlo... in the fashion industry. This is also reflected in the fact that VGG's net revenue in the third quarter of 2023 increased by 18% over the same period, reaching more than 2,264 billion VND. The company's net profit reached VND 50.77 billion, down 16% over the same period in 2022. Compared to the same period last year, the cost of goods sold increased sharply, causing net profit to decrease, with the gross profit margin reaching more than 9%. In the first 9 months of 2023, VGG recorded net revenue of about VND 6,389 billion, up 10% over the same period. Pre-tax profit reached VND 159 billion, down 4% over the same period. After-tax profit was more than VND 126 billion, down 9% compared to 2022. In 2023, Viet Tien aims to achieve revenue of VND 8,030 billion (equal to 95% compared to 2022); Pre-tax profit of VND 200 billion (equal to 96% compared to 2022); average income of employees reaching VND 11.5 million/person/month. Thus, by the end of the third quarter, the revenue and pre-tax profit of this enterprise both reached about 80% of the annual plan. On September 30, 2023, the total assets of May Viet Tien reached VND 5,276 billion, down 8% compared to VND 5,691 billion at the beginning of the year, to VND 5,276 billion. Inventory assets were more than VND 1,423 billion, down 16% compared to the beginning of the year. The reason was that the cost of unfinished production and business decreased by more than half to VND 443 billion. Short-term receivables decreased slightly by 3% to VND 1,412 billion, the largest proportion being receivables from Uniqlo Co. Ltd with VND 674 billion. This long-standing enterprise is considered the priority choice of the majority of middle-class consumers, office workers, and office workers. Recently, May Viet Tien has promoted green transformation, expanded its segments, developed its human resources in a streamlined and efficient manner, and had a competitive remuneration policy to attract high-quality human resources... promoting the consumption of diverse domestic products and meeting many strict requirements from international partners. Although profits have decreased slightly, the number of orders of this company is still guaranteed. Source: https://nhadautu.vn/may-viet-tien-tuyen-dung-hang-ngan-lao-dong-don-hang-doi-dao-d82523.html