On August 4, the Vietnam Textile and Apparel Group (Vinatex, UPCoM: VGT) hosted a market update seminar, featuring a notable discussion on the recently issued US countervailing duty order, which significantly reduced taxes for Vietnam from 46% to 20%.
Vinatex Chairman Le Tien Truong speaks at the August Market Seminar
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Proposals to maintain employment, optimize finances, and secure orders through productivity and quality
In light of the new tax policy, member companies such as Hoa Tho Garment, Hue, and Duc Giang have engaged in specific discussions with US customers, assessing the impact and formulating response strategies.
Emphasizing the ongoing challenges, Vinatex Chairman Le Tien Truong stated: “Even with the reduced tax rate, Vietnam still faces stiff competition in the US market. Thus, our units must promptly adjust their production strategies, safeguarding employment and income for workers while optimizing financial management to maintain competitiveness in the remaining five months of the year, which are expected to be volatile.”
The Vinatex leadership also instructed units like Viet Thang and Nam Dinh to complete equipment upgrades to fulfill signed orders. Notably, the Chairman underscored: “The key to retaining customers lies in productivity and product quality, not only within the Vinatex system but also for outside processing orders.”
Additionally, Mr. Truong drew attention to the dynamic nature of market and policy changes, urging units to proactively update themselves on the latest information and conduct thorough analyses to respond effectively and promptly.
Regarding business performance, Vinatex capitalized on the industry’s recovery trend, reporting encouraging results for the first half of 2025. Specifically, in the second quarter, net profit reached nearly VND 149 billion, a nearly 25-fold increase year-over-year, attributable to improved revenue, profit margins, and the performance of the fiber sector.
For the six-month period, consolidated revenue stood at VND 8,718 billion, up 10%, while net profit exceeded VND 321 billion, marking a significant 657% increase. These figures represent the highest levels in the past three years. With these results, Vinatex has achieved 48% of its revenue target and nearly 72% of its profit plan for the year.
– 08:13 05/08/2025
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