Party headquarters member Mr. Nguyen Hoang Anh spoke at the conference on Dec. 26 on reviewing the party’s work, production and operations in 2022 and on implementing the plan and solutions of Vietnam Textile and Garment Group (Vinatex) in 2023 Committee, Chairman of the Committee for the Management of State Capital at Enterprises, emphasized that Vinatex is a good example of a state-owned joint-stock company that dominates the industry, of which over 99% is private companies, staff and foreign direct investment.

EFFICIENT EFFICIENT EFFICIENT MARKET

Heads of the State Capital Management Committee of companies greatly appreciated Vinatex’s job stability results for more than 150,000 employees, especially in the fourth quarter of 2022, when all labor-intensive export industries such as textile clothing, leather and shoes, wooden furniture…many companies continuously cut, terminated and postponed employment contracts.

In this regard, Vinatex ensures employees not only regular jobs, but also with an average salary of about VND 9.7 million/person/month, an increase of 15% compared to 2021.

Especially as the year with the highest earnings growth rate in the last 7 years, the average Tet bonus of 1.5-2 months salary is really a remarkable achievement. At the same time, this is a good example of the dominant state-owned joint-stock company in the industry, where over 99% are private and FDI companies.

On the other hand, production and business with a consolidated turnover of VND19,535 billion also achieved a growth rate higher than the industry average (about 11%) with an increase of 15% compared to 2021. The company’s efficiency remained at nearly VND1.1 trillion, although down 20% from 2021, but exceeded the plan set by shareholders by 14.6%.

“This is also a result evaluated with many effective efforts in the unexpectedly tight market conditions,” stressed Mr. Nguyen Hoang Anh.

According to the chairman of the Committee on State Capital Management in Enterprises, the experience of 2022 is one of high pressure, which can be described as less pleasant for manufacturing and exporting companies. Only in the last two quarters of the year, especially in the fourth quarter, the situation turned 180 degrees, the market changed week by week…

In this context, the Committee maintains and promotes the Group’s operating model with research groups to forecast the market and macroeconomics in countries that are the Group’s main markets and competitor countries. In addition to the effort to build a learning corporate environment, the Committee highly appreciates the Group’s internal training efforts to find a successor.

In addition, the group also took the first steps to implement the strategy “A goal that provides comprehensive solutions for the textile and garment industry, green fashion”, including renewable energy through roof power, products and services yarn production – fabric from recycled materials, organic materials …

These are the directions for the future, in line with the government’s policy in implementing the commitment to reduce carbon emissions, towards zero carbon by 2050, building a sustainable textile and apparel industry, protecting the environment and entering the Country ranked 3rd in the world for solid emissions from second-hand clothing…

STEP BY STEP HAVE A CANCELLATION PRODUCT

However, apart from certain achievements in 2022, Mr. Nguyen Hoang Anh openly said that Vinatex still has potential difficulties and limitations. It is a small internal supply chain, the products are still simple, starting with simple knitted products.

In addition, the share of green production, green materials and green energy is still very small overall. The proportion of modern technology that has been digitized is still small, and innovation is sluggish. The general management infrastructure of companies is still small and does not reach the standard of comprehensive connection with global supply chains.

In addition, human resources, environmental protection and social responsibility are still challenges with domestic and international requirements. The degree of justice is still small compared to the requirements of developing green production and circular economy in the coming period.

According to the committee chairman, 2023 is expected to face many difficulties and global demand has shown no signs of recovery as the world macro economy is still uncertain and difficult to predict. Therefore, the committee calls on managers and employees of Vinatex, the agency that represents the state capital at Vinatex, to focus on safeguarding workers’ jobs and incomes while maintaining and improving them to make the company better in the supply chain to position.

Ensure stable financial situation and cash flow to ensure continuous production. Accelerate the digitization and digital transformation of production and business processes in companies and deepen participation in global supply chains. At the same time, the member companies are being adapted to the new market requirements, creating a highly efficient internal value chain.

In addition, Mr. Hoang Anh called on the company to speed up the implementation of the strategy towards green, sustainable production with gradual circular products after it was approved by the authorities.

In addition, Vinatex needs to diversify its resources, especially financial resources, to accelerate the innovation process precisely at the time of the global shift to a circular economy model, so as not to miss the opportunity to move up the chain.