Many orders, export businesses are rushing to the finish line

Abundant export orders

Mr. Tran Nhu Tung - Chairman of the Board of Directors of Thanh Cong Textile - Investment - Trading Joint Stock Company (HOSE: TCM) said that the company is lucky to have a "crowded" number of orders, and business results have improved.

At the end of the second quarter of 2024, TCM recorded consolidated net revenue of VND847 billion, an increase of 19% over the same period last year. Gross profit in the period increased by 60%, to VND153 billion. After deducting expenses and taxes, the company earned VND72 billion in after-tax profit, more than 31 times higher than the low base level of the same period last year. This is also the highest profit in the past 7 quarters of this company.

Regarding the order situation, up to now, TCM said it has received about 90% of the revenue plan for orders in the third quarter of 2024 and about 86% of the revenue plan for orders in the fourth quarter of 2024.

Exports are one of Vietnam’s key growth drivers. After a period of stagnation, many key export products such as textiles, footwear, etc. have gradually improved with double-digit growth.

The working atmosphere of the sewing teams at Ho Guom Garment Joint Stock Company these days is also very busy. Although it is hard, everyone knows that getting orders at this time is something to be cherished, because currently, many export markets are still facing difficulties.

Speaking to Lao Dong, Mr. Phi Ngoc Trinh - General Director of Ho Guom Garment Joint Stock Company - said that the company has many orders until the end of September, even some types have orders until the third quarter and is taking advantage of even the smallest opportunities from the market, expanding the customer base to gain more revenue. This year, the company sets a revenue target of 1,000 billion VND and will certainly achieve it.

Production restored in most localities

Ms. Phan Thi Thang - Deputy Minister of Industry and Trade - said that basic industrial production grew widely in most provinces and cities, especially key localities.

"This result reflects a strong economic recovery compared to the same period in 2023," Ms. Thang said, adding that the processing and manufacturing industry has returned and become a driving force for growth.

According to Ms. Thang, the capacity of enterprises, especially domestic enterprises, has recovered positively, and confidence in the market has grown and improved in the first months of the year. A new positive signal is that domestic enterprises' export growth is nearly twice that of FDI enterprises.

Explaining the reason, the leader of the Ministry of Industry and Trade said that policies in disbursing public investment capital and implementing ODA projects have been effective. Attracting positive FDI also helps increase the capacity of the economy; associations, industries, and businesses make good use of opportunities to increase orders from new generation FTAs.

The capacity of enterprises, especially domestic enterprises, has improved thanks to the Government's support policies, a stable macroeconomic environment and the recovery trend of the world market.

However, Deputy Minister Phan Thi Thang admitted that the economy and industrial production still face many challenges.

"Despite many improvements, the internal strength of domestic manufacturing industries is still weak," she said. Not to mention, the added value of domestic industries is still low...

Source: https://laodong.vn/xa-hoi/don-hang-nhieu-doanh-nghiep-xuat-khau-bang-bang-ve-dich-1380268.ldo