Maximizing internal strength, harnessing high-quality human resources, and building a sustainable position in w88 link w88 moi nhat global textile and garment value chain. Leveraging innovation, creativity, and advanced technology to develop diverse products while transitioning strongly into w88 link w88 moi nhat circular economy era.
w88 link w88 moi nhat year 2024 has reaffirmed w88 link w88 moi nhat unpredictable market. While w88 link w88 moi nhat first half of w88 link w88 moi nhat year showed slight improvement, it still carried w88 link w88 moi nhat challenging momentum of 2023. However, w88 link w88 moi nhat second half witnessed a sudden surge in orders to Vietnam, driven by unexpected political upheavals in competing countries.
In 2024, our predictions across three different scenarios proved to be quite accurate. Through monthly reviews and workshops, we made timely and flexible adjustments aligned with market trends, targeting high-potential areas while minimizing losses caused by low pricing and weak demand. Thanks to thorough preparation for various scenarios, we exceeded our annual targets, achieving over 40% growth—an exceptional result given w88 link w88 moi nhat market challenges and persistently low demand.
w88 link w88 moi nhat garment sector continued to be w88 link w88 moi nhat Group’s most vital resource, ensuring financial and labor stability, with some strong enterprises achieving growth rates exceeding 50% compared to 2023. Although w88 link w88 moi nhat yarn sector remained challenging, operating below cost, losses were reduced by over 85% compared to 2023, marking initial progress in finding its path in a new phase.
Market difficulties and competition have provided us with significant lessons, aligned with w88 link w88 moi nhat five steadfast principles and w88 link w88 moi nhat resilient, courageous, innovative, and united spirit fostered over w88 link w88 moi nhat past three years:
- Self-reliance and Internal Strength: Only by maximizing internal strength can we stand firm and trust our system through w88 link w88 moi nhat toughest challenges. We cannot rely on external support to help w88 link w88 moi nhat Group overcome difficulties.
- Proactivity, Creativity, and Flexibility: w88 link w88 moi nhat most crucial strategy for survival is constant adaptation based on high-quality forecasting and following market and competitor trends.
- Building High-Quality Human Resources: Developing a strong workforce with a mix of generations, particularly focusing on young talent. In w88 link w88 moi nhat context of scarce skilled labor, pooling and sharing high-quality human resources have helped address challenges across w88 link w88 moi nhat Group. Connections between member units have been enhanced.
- Accepting Challenges and Experimenting: Actively exploring new products, applying advanced technologies, and seeking new markets.
- Upholding Responsibility and Promoting Sustainability: Strengthening our image as a responsible corporation focused on green textiles is essential. Meeting all commitments ensures our position as a reliable partner in global supply chains.
w88 link w88 moi nhat year 2025 marks significant milestones for w88 link w88 moi nhat nation, including w88 link w88 moi nhat 80th anniversary of its founding, accompanied by w88 link w88 moi nhat vision of entering a “new era of national revival.” It is also a pivotal year for Vinatex, celebrating its 30th anniversary and w88 link w88 moi nhat start of a new term for w88 link w88 moi nhat Board of Directors. w88 link w88 moi nhat mission for 2025 is to define what w88 link w88 moi nhat “new era of Vinatex” means and how it can rise to meet w88 link w88 moi nhat expectations of w88 link w88 moi nhat nation and its people.
w88 link w88 moi nhat new era for Vinatex can initially be defined as sustainable development across four pillars: environment, society, governance, and finance (ESGF). It envisions Vinatex as a globally competitive player in textile and garment supply chains, possessing unique competitive strengths through innovative technologies and distinctive products. It also embodies a corporate culture that blends w88 link w88 moi nhat humanitarian traditions of past generations with modern, worker-focused practices.
Strategies for Vinatex to Rise in w88 link w88 moi nhat New Era:
- Maximizing Internal Strengths: Leverage w88 link w88 moi nhat potential of individual enterprises to create a unified Group strength. w88 link w88 moi nhat Group’s strategic vision must translate into concrete actions at w88 link w88 moi nhat enterprise level. Horizontal and vertical integration within and outside w88 link w88 moi nhat Group is crucial for building Group competitiveness in w88 link w88 moi nhat new phase, serving as w88 link w88 moi nhat foundation for securing a high position in global supply chains.
- Attracting and Effectively Utilizing Talent: Develop and share high-quality human resources across w88 link w88 moi nhat Group, fostering collective progress. Given w88 link w88 moi nhat intense competition in w88 link w88 moi nhat labor market, attracting and retaining top talent is vital.
- Accelerating Digital Transformation: Modernize governance by implementing w88 link w88 moi nhat best management practices and digital transformation initiatives across all enterprises in w88 link w88 moi nhat Group.
- Developing Niche Products and Markets: Research and create distinctive, innovative products beyond conventional textiles, establishing technological and market barriers to protect w88 link w88 moi nhat Group’s sustainability. Balance highly competitive production areas with those offering greater creative value.
- Applying Automation and AI: Reduce dependence on labor through automation and artificial intelligence, increasing w88 link w88 moi nhat productivity and value of individual workers in w88 link w88 moi nhat textile and garment sector to align with w88 link w88 moi nhat country’s economic progress.
- Preserving Unity and Modernizing Culture: Maintain solidarity and mutual support traditions while fostering a modern corporate culture that emphasizes innovation, talent recognition, and calculated risk-taking.
w88 link w88 moi nhat market will remain competitive, and w88 link w88 moi nhat challenges of 2025 will be no less than in previous years. Global economic uncertainties and competitors’ recovery after a turbulent year will lead to increased supply. However, with w88 link w88 moi nhat “unchanging” values Vinatex has built, coupled with clear strategies and w88 link w88 moi nhat determination, self-reliance, and resilience of w88 link w88 moi nhat entire system, we are confident in stepping into 2025—a year that marks w88 link w88 moi nhat beginning of a new journey where Vinatex will rise alongside w88 link w88 moi nhat nation in this new era.
By: Le Tien Truong
Chairman of Vinatex
