VIETNAM: VTEC Wins Government Labour Award
Viet Tien Garment Export and Import Co. (VTEC) affiliated to Vietnam Textile-Garment Corp yesterday received a Labour Hero award issued by the State President, the Saigon Times Daily reported.General Director Tran Dac Nguyen said that VTEC staff had earned the award over the past ten years. The company's production value had grown from VND5.84bn with 3.42 million products, to VND92.82bn with 24.27 million products last year. Its profits also increased from VND1.14bn to VND27.6bn in the period.The company also spent VND170bn upgrading equipment and expanding workshops in the period, including VND127.4bn paid out between 1995 and last year alone.Nguyen Dinh Truong, deputy general director in charge of sales, said currently VTEC exported 90 per cent of its products to Europe and Japan, bringing in US$16m per year on average.The company also obtained VND1.5bn per month on average from domestic sales, via 60 outlets across the country.
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