Vietnam Apparel Firm Exports US$26 Mln in Jan-November
Bac Giang Garment Joint Stock Co, one of Vietnam's leading apparel exporters to South Korea, made export revenues of US$26 million in the first eleven months this year, up 61 per cent on year, Vietnam & World Economy newspaper reported Wednesday.
The company targeted to bring this year's revenues to US$29 million, up 69 per cent against 2006, the source noted, adding that the company's major markets are South Korea, EU and the U.S.
Recently, the northern Bac Giang province-based company has invested VND48 billion ($3 million) purchasing 550 industrial sewing machines and many other equipment, employing 1,900 workers aiming raise production capacity by 30 per cent on year.
The company plans to reduce its processing rates to 50 per cent and to produce T-shirts and suits for local consumption and exports. It said it signed deals to the fourth quarter of 2008.
Vietnam’s textile and garment sector has set an ambitious target to export $9.5 billion in 2008, up 22 per cent over 2007, said the Ministry of Industry and Trade (MoIT) during a conference in Hanoi November 29. (Vietnam & World Economy)
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