General Director of Vinatex works with Chairman of Textile Company Itochu

Overview of the meeting between Vinatex and Textile Company, Itochu

Attending the meeting were Mr. Pham Van Tan - Standing Deputy General Director of Vinatex; Leaders of functional departments of the Group. On the Textile Company side, Itochu has a Director of business fields, representing Itochu in Vietnam. At the meeting, Vinatex and Textile Company, Itochu took time to introduce the strengths and advantages of the two sides, as well as the development strategy orientation in the coming time.

Mr. Cao Huu Hieu - General Director of Vinatex shared Vinatex's development orientation and cooperation opportunities between the two sides

Sharing about the results of production and business activities, Mr. Cao Huu Hieu said that in the first 6 months of 2022, Vinatex has completed the plans assigned by the General Meeting of Shareholders, however, in the last 6 months of the year, there are still many difficulties and objectives of Vinatex. is to maintain the achieved results. Along with the drastic and flexible direction of the Executive Agency, the business results in 2022 will strive to exceed 2021.

Vinatex's orientation from now to 2025 is to become a package supply destination for textile products - green fashion, step by step restructure operations, invest heavily in yarn, textile and dyeing projects to complete supply chain improvement. In addition, Vinatex will also focus on investment and green projects, recycled fiber products, and highly specialized products... To realize these orientations, in addition to investing in machinery. machinery and technology, Vinatex wishes to cooperate with Itochu because this is the strength of the unit.

In addition, leaders of Vinatex also said that Vinatex has been working with a number of provinces and cities in the North, Central and South regions to apply for investment policies and land funds to build industrial parks with industrial investment. Textile dyeing with green standards to close the supply chain. General Director Cao Huu Hieu expressed, with experience in the textile industry, along with enthusiastic staff, Vinatex's cooperation with Textile Company, Itochu will have success when both sides promote their strengths, advantage of each unit. At the same time, Vinatex leaders want Textile Company and Itochu to be interested in investment cooperation or call on other investors to cooperate with Vinatex in these key and strategic projects.

Mr. Masahiro Morofuji - Chairman of Textile Company, Itochu Group said that over the years, Vinatex and Itochu have had a comprehensive cooperation, first of all in terms of shareholders when Itochu is a major shareholder of Vinatex. With China's "zero covid" policy, the global supply chain is seriously affected, so the trend of shifting the supply chain to neighboring areas is a trend of the global textile industry. If Vietnam promptly catches up with this trend, it will be possible to solve the story of supply chain disruption for the textile industry. Vinatex's positioning and strategy are very suitable for Textile Company, Itochu and Textile Company, Itochu's customers in Europe when bringing green, circular textile products into production. The Chairman of Textile Company expressed that the unit is promoting the production of recycled polyester fibers, Vinatex and its member units with the yarn industry can use this item to produce recycled yarn products. With investment projects, Itochu currently has financial resources available to immediately join Vinatex in investing in new projects. To do this, the two sides need to share and research whether the project is in line with Itochu's orientation or not.

Chairman of Textile Company, Itochu shared, in addition to strengths in textile production and textile infrastructure in the direction of greening, Textile Company and Itochu are also aiming for horizontal development, expanding production and business models. into some new items such as shoes.

Mr. Pham Van Tan - Standing Deputy General Director of Vinatex said that Vinatex's point of view with Textile Company and Itochu is always a sustainable connection and promote the advantages of the two sides. Currently, as the Chairman of Nam Dinh Textile and Garment Joint Stock Company (Natexco), Mr. Pham Van Tan also expressed Textile Company, Itochu can immediately study the investment project of a factory producing household textile products in Vietnam. Natexco's Nam Dinh area because of the available infrastructure and premises. At the same time, this is also the strategy that Vinatex is aiming for, developing more diverse products for niche markets, in addition to specialized items such as: flame retardant fabric, puncture resistant fabric...

Leaders of Vinatex and Leaders of Textile Company, Itochu take souvenir photos

Concluding the meeting, Mr. Cao Huu Hieu said that between Vinatex and Textile Company, Itochu has the same development orientation and can cooperate more deeply. As a major shareholder of Vinatex, Vinatex leaders expressed their hope that Itochu will continue to support in the future when Vinatex will devote more resources to investment and reduce the dividend payout ratio, but certainly sweet” will be collected in the near future.

Textile Company leader, Itochu expressed his full support for Vinatex's point of view in increasing the value of the business, increasing the value of shares, as well as the extensive cooperation not only in investment, but also in operations. business and production.

Quang Nam

https://vinatex.com.vn/tong-giam-doc-vinatex-lam-viec-voi-chu-tich-cong-ty-textile-tap-doan-itochu/

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