AsemconnectVietnam - TNG Investment and Trading Joint Stock Company said that it has completed 100% of the 2023 revenue plan, reaching VND6,800 billion, reaching the target 16 days ahead of schedule.

In 2023, Vietnam's textile and garment industry will face many difficulties, as the world economy grows slowly, leading to the trend of tightening consumer spending and large inventories of goods, making the textile and garment industry be greatly affected. Total world textile and garment demand decreases by 8% compared to 2022, Vietnam's textile and garment industry is estimated to reach USD40.3 billion, down 9.2% compared to 2022. Lack of orders, plummeting prices, increasing costs, competition These are the major difficulties that textile and garment enterprises face.
In that context, TNG's Board of Directors promptly and flexibly provided strategies and solutions to maintain production and business activities but also reach the finish line 16 days ahead of schedule. TNG is among the few businesses that have overcome difficulties and challenges of the textile industry to complete their revenue target before the end of 2023.
Many units of TNG such as Viet Duc garment branch, Viet Thai garment branch, Phu Binh 1-2-3-4 garment branch also completed the year's revenue plan early. In the Company's revenue structure, the proportion of revenue from exported garments accounts for 98%, of which the main export market is the US accounting for 40%, the EU accounting for 40%, and the remaining markets are other markets like Russia, Canada, Netherlands, Korea...
TNG's main customers are branded direct retail customers, strategic partners and have long-term cooperation with TNG such as Decathlon, Columbia, The Children's Place, Sportmaster, Costco, Nike, Adidas... In addition In addition, TNG expanded to new customers such as: Studioray, Purple door... Besides, TNG also exports cotton to serve as raw materials for producing jacket products of partner customers to the Indian, Indonesia and Ethiopia.
It is expected that by the end of 2023, TNG's revenue will reach VND7,030 billion, exceeding 3% of the year's plan, up 4% over the same period in 2022.
N.Nga
Source: VITIC/Tinnhanhchungkhoan