Revenues of the Vietnam National Textile and Garment Group (Vinatex) surged by 144.2 per cent Y-o-Y i to over 5.15 trillion VND ($224.26 million)in Q1FY22. The association recorded a pre-tax profit of 376.7 billion VND ($16.4 million) during the quarter.

The association’s revenues from the textile industry increased by 139 per cent, while revenues from the garment industry rose by 167 per cent over the same period last year.

Cao HuuHieu, General Director, Vinatexattributes the growth to the sound control of COVID-19, enabling businesses to deliver the orders they received from 2021 and accept more orders, along with stable prices of cottons and labour cost, a news agency reported.

This year, Vinatex plans to speed up digital transformation to improve its operating efficiency, he says.

Vinatex has completed 63 per cent of its yearly target in textile production, while its garment has recovered to the same situation as the pre-pandemic period, adds Le Mac Thuan, General Director, Vinatex