HANOI, Aug. 25 (Xinhua) -- Vietnamese textile companies need to focus on management restructuring, cost-cutting and personnel training as part of efforts to cope with the challenges faced by a slowing economy, the Vietnam News reported on Friday, citing industry insiders.
Textile enterprises should prioritize retaining skilled workers, offering training, fostering customer loyalty, receiving special orders, and cutting costs amid challenges, the local newspaper quoted Truong Van Cam, vice chairman and secretary general of the Vietnam Textile and Apparel Association, as saying.
According to Nguyen Hai Duong, chairman and general director of the textile and garment company M2 Vietnam JSC, the difficulties would continue for a while although exports might go up this year. Enterprises should not depend solely on exports but push promotions and expand the local market too, he said.
Cao Huu Hieu, general director of the Vietnam National Textile and Garment Group, said improving internal training and management post-training, reducing production costs and adopting digital management are crucial to reviving the industry.
Bui Van Tien, general director of the Viettien General Garment JSC, said his company has been restructuring its management, investing in technology and diversifying products and customer demographics.
Vietnam earned more than 18.9 billion U.S. dollars from exporting textiles and garments in the first seven months of this year, down 15.1 percent year-on-year, according to the Southeast Asian country's General Statistics Office. ■
