VIETNAM TEXTILE AND APPAREL INDUSTRY REPORT Q1/2018
|
|
- Griselda Bryan
- 5 years ago
- Views:
Transcription
1 VIETNAM TEXTILE AND APPAREL INDUSTRY REPORT Q1/2018 1
2 TABLE OF CONTENTS Contents Page Contents Page ABBREVIATIONS Textile dyeing 43 SUMMARY Apparel 47 I. Business environment Distribution and export system Macroeconomic situation Machinery of textile apparel industry Legal framework Vietnam textile and apparel market Trade agreements Vietnam textile and apparel market's overview 59 II. Industry overview Input materials World textile and apparel market Spinning Value chain of textile and apparel industry Textile dyeing Input materials Apparel Spinning Distribution and export system 92 2
3 TABLE OF CONTENTS Contents Page Contents Page III. Industry outlook and risk 95 IV. Enterprise analysis Industry risk Garment enterprise analysis forces analysis Textile and fiber enterprise analysis SWOT analysis 99 IV. Conclusion Risks 101 Appendix Industry outlook Industry planning Forecast and assessment of industry outlook 107 3
4 ABBREVIATIONS ABBREVIATIONS Shortened form Full form Shortened form Full form CAGR Compounded Annual Growth Rate PET Polyethylene terephthalate CMT Cut Make Trim GDVC General Department of Vietnam Customs CNTAC China National Textile & Apparel Council GSO General Statistics Office of Vietnam CPI Consumer Price Index CI Corporate Income JCS Joint Stock Company Co., Ltd. Company Limited NR Net Revenue FA Fixed Assets EU European Union LTA Long-term Assets GDP Gross Domestic Product LSA Short-term Assets OBM Original brand manufacturer UAE The United Arab Emirates ODM Original design manufacturer VCOSA Vietnam Cotton and Spinning Association OEM Original Equipment Manufacturer VINATEX Vietnam Textile Corporation VITAS Vietnam Textile and Apparel Association 4
5 SUMMARY WORLD TEXTILE AND APPAREL MARKET The world textile and apparel industry is deeply influenced by macroeconomic fluctuations. China, The United States, Germany and Japan are the largest textile and apparel consuming countries in the world. 5
6 SUMMARY VIETNAM TEXTILE AND APPAREL MARKET Textile and apparel industry is one of the key sectors of Vietnam and has the second largest export turnover with export value contributing 10-15% to GDP. Domestic textile and apparel enterprises are weak in the knowledgeintensive stages such as building distribution system, exporting, designing and branding.. Vietnam is one of the top 10 textile and apparel exporting countries in the world. 6
7 TABLE OF CONTENTS Part I. Business environment 1. Macroeconomic situation 2. Legal framework 3. Trade agreements 4. Trans-Pacific Partnership Agreement 7
8 Part I. Business environment 1. Macroeconomic situation Gross domestic product in 2017 is estimated to increase by 6.81% over 2016, GDP growth rate by quarter, Source: VIRAC, GSO GDP by current price and GDP per capita, VND Trillion Source: VIRAC, GSO 8
9 Part I. Business environment 1. Macroeconomic situation FDI in 2017 had a strong growth Billion USD FDI capital, FDI attraction by sector, 2017 Sources: VIRAC, FIA Sources: VIRAC, FIA 9
10 Part I. Business environment 1. Macroeconomic situation Total value of exported and imported commodity of Vietnam in 2017 reached billion USD Imports and exports of commodity, Billion USD Billion USD Sources: VIRAC, GSO 10
11 Part I. Business environment 1. Macroeconomic situation USD million Main imported products from China, 2017e USD million Source: VIRAC, GDVC Main exported products to China, 2017e VND/CNY exchange rate, 2/ /2017 Source: VIRAC, GDVC Source: VIRAC 11
12 Part I. Business environment 1. Macroeconomic situation In 2017, the VND / USD exchange rate was quite stable around VND 22,400 VND/USD exchange rate, Source: VIRAC, SBV 12
13 Part I. Business environment 1. Macroeconomic situation Impact of related sectors Petrochemical refining projects being implemented in Vietnam Project Location Investment capital (USD billion) Capacity (million tons/year) Source: VIRAC 13
14 Part I. Business environment 1. Macroeconomic situation Impact of related sectors For the whole of 2017, the total retail sales of consumer goods and services are estimated at 3,934.2 VND trillion, Retail sales of goods, Source: VIRAC, GSO 14
15 Part I. Business environment 1. Macroeconomic situation Impact of related sectors Leading retailers in Vietnam market, 2016 Brand Company Number of stores Revenue in 2016 (USD million) Boom of modern retail systems: (*) estimated Source: VIRAC, Retail Asia Publishing 15
16 TABLE OF CONTENTS Part I. Business environment 1. Macroeconomic situation 2. Legal framework 3. Trade agreements 4. Trans-Pacific Partnership Agreement 16
17 Part I. Business environment 2. Legal framework Group of regulations and standards on textile and apparel production: 17
18 Part I. Business environment 2. Legal framework Group of policies and regulations affecting the industry 18
19 Part I. Business environment 2. Legal framework The social insurance law of 2014 stipulates that from January 1, 2018, women workers pay social insurance for 30 years to receive 75% of pension. 19
20 Part I. Business environment 2. Legal framework Group of regulations on import and export: Group of tax regulations: Import Tax Corporate Income Tax 20
21 TABLE OF CONTENTS Part I. Business environment 1. Macroeconomic situation 2. Legal framework 3. Trade agreements 4. Trans-Pacific Partnership Agreement 21
22 Part I. Business environment 3. Trade agreements 22
23 Part I. Business environment 3. Trade agreements Vietnam South Korea Free Trade Agreement 23
24 Part I. Business environment 3. Trade agreements Vietnam EU Free Trade Agreement 24
25 Part I. Business environment 3. Trade agreements Comprehensive and Progressive Agreement for Trans-Pacific Partnership 25
26 Part I. Business environment 3. Trade agreements Regional Comprehensive Economic Partnership (RCEP) 26
27 TABLE OF CONTENTS Part II. Industry overview 1. World textile and apparel market 1.1. Industry size 1.2. Value chain of global textile and apparel market 1.3. Input materials 1.4. Spinning 1.5. Textile dyeing 1.6. Apparel 1.7. Distribution and export system 1.8. Machinery of textile apparel industry 27
28 Part II. Industry overview 1.1 Industry size Revenue growth of global textile and apparel industry, f Sources: VIRAC, Euromonitor Passport Data 2017 In 2017, the global textile and garment turnover is estimated at about USD 1,400 million. 28
29 TABLE OF CONTENTS Part II. Industry overview 1. World textile and apparel market 1.1. Industry size 1.2. Value chain of global textile and apparel market 1.3. Input materials 1.4. Spinning 1.5. Textile dyeing 1.6. Apparel 1.7. Distribution and export system 1.8. Machinery of textile apparel industry 29
30 Part II. Industry overview 1. World textile and apparel market 1.2. Value chain of global textile and apparel market 30
31 Part II. Industry overview 1. World textile and apparel market 1.2. Value chain of global textile and apparel market Value chain of global textile and apparel industry is divided into 5 basic stages 31
32 Part II. Industry overview 1. World textile and apparel market 1.2. Value chain of global textile and apparel market CMT OEM/FOB ODM OBM 32
33 TABLE OF CONTENTS Part II. Industry overview 1. World textile and apparel market 1.1. Industry size 1.2. Value chain of global textile and apparel market 1.3. Input materials 1.4. Spinning 1.5. Textile dyeing 1.6. Apparel 1.7. Distribution and export system 1.8. Machinery of textile apparel industry 33
34 Part II. Industry overview 1. World textile and apparel market 1.3. Input materials Cotton is the input material of the textile and apparel industry to produce natural fibers. Cotton is grown in more than 100 countries around the world and is highly concentrated in three major producing countries: India, China and the United States. USD/kg World cotton price, 9/ /2017 Source: VIRAC, Indexmundi 34
35 Part II. Industry overview 1. World textile and apparel market 1.3. Input materials MEG price fluctuations in Asia, 4/2016 1/2017 MEG In the first months of 2017, prices of MEG, PTA, Chip and other products in Asian polyester chains such as PX, PSF tended to increase significantly. Polyester Chip Price Fluctuations in China, 4/2016-1/2017 USD/ton PTA price fluctuations, 4/2015 4/2017 Source: VIRAC, EmergingTextiles Chip Source: VIRAC, EmergingTextiles Source: VIRAC, EmergingTextiles 35
36 36 Part II. Industry overview 1. World textile and apparel market 1.3. Input materials Million tons Global cotton production, 2012/ /2018e Global cotton consumption, 2012/ /2018e Million tons Source: VIRAC, Cotton inc Source: VIRAC, Cotton inc
37 37 Part II. Industry overview 1. World textile and apparel market 1.3. Input materials Cotton productivity in some countries, 2015/ /2018e There are two method of producing cotton in the world: Kg/ha Brazil's cotton productivity has been greatly improved thanks to technological improvements. Cotton productivity in Vietnam is low compared to that of many other countries in the world. Source: VIRAC, USDA, Indexmundi Indian cotton productivity is low due to unfavorable natural conditions.
38 38 Part II. Industry overview 1. World textile and apparel market 1.3. Input materials The United States China Bangladesh Turkey India
39 Part II. Industry overview 1. World textile and apparel market 1.3. Input materials Thousand tons World cotton exports, 2012/ /18e World cotton imports, 2012/ /18e Thousand tons Source: VIRAC, USDA Source: VIRAC, USDA 39
40 TABLE OF CONTENTS Part II. Industry overview 1. World textile and apparel market 1.1. Industry size 1.2. Value chain of global textile and apparel market 1.3. Input materials 1.4. Spinning 1.5. Textile dyeing 1.6. Apparel 1.7. Distribution and export system 1.8. Machinery of textile apparel industry 40
41 Part II. Industry overview 1. World textile and apparel market 1.4. Spinning Million tons Fiber production and consumption worldwide, Price index of fiber and oil up to 4/2016 Source: VIRAC, The fiber year, FRED Source: VIRAC, Emerging Textile 41
42 Part II. Industry overview 1. World textile and apparel market 1.4. Spinning Global fiber consumption structure, 2016 Structure of global consumption purpose of fiber, 2014 Content Source: is VIRAC, intentionally ICAC, CIRFS, TFY, FEB removed for demo purpose Global demand for types of fiber e Cotton and polyester fibers are the two main types of fibers. Million tons Source: VIRAC, PCI Fibres 42
43 TABLE OF CONTENTS Part II. Industry overview 1. World textile and apparel market 1.1. Industry size 1.2. Value chain of global textile and apparel market 1.3. Input materials 1.4. Spinning 1.5. Textile dyeing 1.6. Apparel 1.7. Distribution and export system 1.8. Machinery of textile apparel industry 43
44 Part II. Industry overview 1. World textile and apparel market 1.5. Textile dyeing Global fiber and fabric production index, Q1/2014 Q3/2016 Source: VIRAC, ITMF Global textile trade, e USD billion Source: VIRAC, UNcomtrade 44
45 Part II. Industry overview 1. World textile and apparel market 1.5. Textile dyeing 45
46 Part II. Industry overview 1. World textile and apparel market 1.5. Textile dyeing Top 10 largest textile exporters in the world, 2016 Billion USD In 2016, in terms of the textiles exports, China, EU28 and India are still the three countries and regions with the largest export turnover, Sources: VIRAC, WTO Secreteriat Top 10 largest importers of textiles in the world, 2016 Billion USD Sources: VIRAC, WTO Secreteriat 46
47 TABLE OF CONTENTS Part II. Industry overview 1. World textile and apparel market 1.1. Industry size 1.2. Value chain of global textile and apparel market 1.3. Input materials 1.4. Spinning 1.5. Textile dyeing 1.6. Apparel 1.7. Distribution and export system 1.8. Machinery of textile apparel industry 47
48 Part II. Industry overview 1. World textile and apparel market 1.6. Apparel Scale of global textile production e USD billion Source: VIRAC, Marketline 48
49 Part II. Industry overview 1. World textile and apparel market 1.6. Apparel Global textile and apparel trade is heavily influenced by major economies such as Europe and the United States. USD billion Global textile and apparel import and export value, e Source: VIRAC, UN Comtrade 49
50 Part II. Industry overview 1. World textile and apparel market 1.6. Apparel World's top 10 largest apparel exporting countries, 2016 USD billion Source: VIRAC, WTO Secreteriat World's top 10 largest apparel importing countries, 2016 USD billion Source: VIRAC, WTO Secreteriat 50
51 Part II. Industry overview 1. World textile and apparel market 1.6. Apparel Export structure of textile and apparel worldwide 2016e USD billion Global apparel trade value F Source: VIRAC, Marketline Source: VIRAC, Marketline 51
52 Part II. Industry overview 1. World textile and apparel market 1.5. Apparel Scale of global apparel market f USD billion There is a huge gap in annual spending on apparel per capita between developing and developed countries. Spending on apparel per capita F USD/year Source: VIRAC, Euromonitor 52
53 Part II. Industry overview 1. World textile and apparel market 1.6 Apparel USD/month Average wage in some countries, 2016 Currently, the textile and apparel industry is gradually improving, but there are still big gap among countries. Source: VIRAC, Jobstreet Average wage of textile and apparel industry in some countries, 2016 USD/month Source: VIRAC, Jobsteet 53
54 TABLE OF CONTENTS Part II. Industry overview 1. World textile and apparel market 1.1. Industry size 1.2. Value chain of global textile and apparel market 1.3. Input materials 1.4. Spinning 1.5. Textile dyeing 1.6. Apparel 1.7. Distribution and export system 1.8. Machinery of textile apparel industry 54
55 Part II. Industry overview 1. World textile and apparel market 1.7. Distribution and export system Export and marketing Commercialization USD billion The value of global Content apparel retail is industry intentionally e removed for demo purpose Source: VIRAC, Marketline 55
56 TABLE OF CONTENTS Part II. Industry overview 1. World textile and apparel market 1.1. Industry size 1.2. Value chain of global textile and apparel market 1.3. Input materials 1.4. Spinning 1.5. Textile dyeing 1.6. Apparel 1.7. Distribution and export system 1.8. Machinery of textile apparel industry 56
57 Part II. Industry overview 1. World textile and apparel market 1.8. Machinery of textile apparel industry World's top largest textile machinery importing countries, 2016e USD thousand USD thousand World's top largest textile machinery exporting countries, 2016e Source: VIRAC, ITC Source: VIRAC, ITC 57
58 Part II. Industry overview 1. World textile and apparel market 1.8. Machinery of textile apparel industry Some of the largest textile manufacturers in the world Country Manufacturer 58
59 TABLE OF CONTENTS Part II. Industry overview 2. Vietnam textile and apparel industry 2.1. Industry overview 2.2. Input materials 2.3. Spinning 2.4. Textile dyeing 2.5. Apparel 2.6. Distribution and export system 59
60 Part II. Industry overview 2. Vietnam textile and apparel industry 2.1. Industry overview INDUSTRY OVERVIEW Indicator Value 60
61 Part II. Industry overview 2. Vietnam textile and apparel industry 2.1. Industry overview Number of enterprises of Vietnam textile and apparel industry, Sectors Sources: VIRAC, GSO 61
62 Part II. Industry overview 2. Vietnam textile and apparel industry 2.1. Industry overview The South East region is home for the largest number of textile and apparel enterprises in the country with three major cities: Ho Chi Minh City, Binh Duong and Dong Nai. Textile and apparel enterprises distributed by region, 2016 Source: VIRAC, MOIT 62
63 Part II. Industry overview 2. Vietnam textile and apparel industry 2.1. Industry overview At present, Vietnam has 8,149 private enterprises in the textile and apparel industry, mainly located in the South East, Textile and apparel private enterprises distributed by region, 2016 Sources: VIRAC, GSO The proportion of turnover of types of apparel enterprises, 2014 Sources: VIRAC, Enterprise Survey
64 Part II. Industry overview 2. Vietnam textile and apparel industry 2.1. Industry overview Numbers of laborers in Vietnam textile and apparel industry, Sectors Proportion of textile and apparel sectors in 2016 Sources: VIRAC, GSO Textile and apparel is currently the most labor-intensive industry. The labor force of the textile and apparel industry accounts for more than 20% of the labor force in the industrial sector and nearly 5% of the total labor force. 64
65 Part II. Industry overview 2. Vietnam textile and apparel industry 2.1. Industry overview Textile and apparel industry responds to industrial revolution 4.0 : 65
66 Part II. Industry overview 2. Vietnam textile and apparel industry 2.1. Industry overview No. Type 2013 (Million USD) The import-export balance of Vietnam's textile and apparel commodity, (Million USD) 2015 (Million USD) 2016 (Million USD) 2017 (Million USD) 2017 compared to 2016 (%) Sources: VIRAC, VITAS 66
67 TABLE OF CONTENTS Part II. Industry overview 2. Vietnam textile and apparel industry 2.1. Industry overview 2.2. Input materials 2.3. Spinning 2.4. Textile dyeing 2.5. Apparel 2.6. Distribution and export system 67
68 Part II. Industry overview 2. Vietnam textile and apparel industry 2.2. Input materials Thousand tons Tình hình sản xuất bông của Việt Nam, 2013/ /2017e Thousand hectares Cotton planting area in some major regions Thousand hectares Source: VIRAC, Vietrade, Cotton, inc Source: VIRAC, MARD, GSO 68
69 Part II. Industry overview 2. Vietnam textile and apparel industry 2.2. Input materials Method of cultivation and cotton growing regions of Vietnam Region Features 69
70 Part II. Industry overview 2. Vietnam textile and apparel industry 2.2. Input materials Million tons Cotton consumption value in Vietnam, 2010/ /2017e The area of cotton plantation in the Northwest and the South West has fallen sharply since the 2014/2015 season as farmers move to more productive crops. Source: VIRAC, Vietrade, Cotton, inc 70
71 Part II. Industry overview 2. Vietnam textile and apparel industry 2.2. Input materials USD/kg Cotton import price, 10/ /2017 Source: VIRAC, GDVC 71
72 Part II. Industry overview 2. Vietnam textile and apparel industry 2.2. Input materials Thousand tons Cotton imports in Vietnam, e USD million Vietnam imports cotton mainly from the US, India, Australia, Brazil, Ivory Coast... in which America is the main market, Source: VIRAC, GDVC Import market structure of cotton in Vietnam, 2017e Source: VIRAC, GDVC 72
73 Part II. Industry overview 2. Vietnam textile and apparel industry 2.2. Input materials Import and export of some other raw materials: Import-export turnover of textile, leather and foot-wear materials and auxiliaries, e USD million Source: VIRAC, GDVC Import market structure of textile, leather and foot-wear materials and auxiliaries, 2017e Export market structure of textile, leather and foot-wear materials and auxiliaries, 2017e Source: VIRAC, GDVC Source: VIRAC, GDVC 73
74 TABLE OF CONTENTS Part II. Industry overview 2. Vietnam textile and apparel industry 2.1. Industry overview 2.2. Input materials 2.3. Spinning 2.4. Textile dyeing 2.5. Apparel 2.6. Distribution and export system 74
75 Part II. Industry overview 2. Vietnam textile and apparel industry 2.3. Spinning Thousand tons Yarn production volume, e Source: VIRAC, GSO Thousand tons Yarn volume and consumption value, e VND billion Source: VIRAC, GSO 75
76 Part II. Industry overview 2. Vietnam textile and apparel industry 2.3. Spinning USD million Yarn import and export in Vietnam, e Source: VIRAC, GDVC 76
77 Part II. Industry overview 2. Vietnam textile and apparel industry 2.3. Spinning In 2017, China is the main yarn export market of Vietnam, Export structure of yarn by volume, 2017e Import structure of yarn by volume, 2017e Source: VIRAC, GDVC Source: VIRAC, GDVC 77
78 Part II. Industry overview 2. Vietnam textile and apparel industry 2.3. Spinning Number of yarn piles and rotors in Vietnam yarn industry, e Long fiber producing enterprises in Vietnam Company name Capacity Product segment Source: VIRAC, VITAS Source: VIRAC, VITAS 78
79 Part II. Industry overview 2. Vietnam textile and apparel industry 2.3. Spinning Some fiber projects in Vietnam in the period Time Company name Country Investment Value (USD million) Location Source: VIRAC 79
80 TABLE OF CONTENTS Part II. Industry overview 2. Vietnam textile and apparel industry 2.1. Industry overview 2.2. Input materials 2.3. Spinning 2.4. Textile dyeing 2.5. Apparel 2.6. Distribution and export system 80
81 Part II. Industry overview 2. Vietnam textile and apparel industry 2.4. Textile dyeing Fabric production volume in Vietnam, e Million m² Vietnam's fabric production only meets 15-16% of demand. Content is intentionally Source: VIRAC, GSO removed for demo purpose VND trillion Fabric consumption value, e Production structure of Vietnamese fabrics, e Source: VIRAC, GSO Source: VIRAC, GSO 81
82 Part II. Industry overview 2. Vietnam textile and apparel industry 2.4. Textile dyeing USD million Fabric export-import turnover of Vietnam, e Vietnam's fabric import market structure, 2017e Source: VIRAC, GDVC Source: VIRAC, GDVC 82
83 Part II. Industry overview 2. Vietnam textile and apparel industry 2.4. Textile dyeing Textile dyeing and finishing process 83
84 Part II. Industry overview 2. Vietnam textile and apparel industry 2.4. Textile dyeing General assessment of textile machinery and technology in Vietnam General assessment of dyeing technology in Vietnam Material and power Unit Vietnam Germany Finland Source: VIRAC 77
85 Part II. Industry overview 2. Vietnam textile and apparel industry 2.4. Textile dyeing Causes leading to the nondevelopment of Vietnam textile dyeing industry: 85
86 TABLE OF CONTENTS Part II. Industry overview 2. Vietnam textile and apparel industry 2.1. Industry overview 2.2. Input materials 2.3. Spinning 2.4. Textile dyeing 2.5. Apparel 2.6. Distribution and export system 86
87 Part II. Industry overview 2. Vietnam textile and apparel industry 2.5. Apparel Million units Apparel production volume, e Garment production volume is increasing but mostly for export. Content is intentionally Source: VIRAC, removed GSO for demo purpose Market share of domestic apparel market, 2016e 87
88 Part II. Industry overview 2. Vietnam textile and apparel industry 2.5. Apparel USD million Apparel exports (including fabric) of Vietnam, e In general, the domestic apparel market is still rather modest due to people's low living standards. Source: VIRAC, GDVC Structure of apparel for export, 6M/2017e Source: VIRAC, VITAS 88
89 Part II. Industry overview 2. Vietnam textile and apparel industry 2.5. Apparel Export market structure of textiles and apparel in Vietnam, 2017e The United States, the EU, Japan, Korea are the four largest importers of textiles and garments in Vietnam. Source: VIRAC, GDVC USD billion Export value of textiles and apparel to some countries, e Source: VIRAC, GDVC 89
90 Part II. Industry overview 2. Vietnam textile and apparel industry 2.5. Apparel Textile and apparel exports of FDI enterprises and domestic USD billion enterprises, 2017e Source: VIRAC, GDVC 90
91 Part II. Industry overview 2. Vietnam textile and apparel industry 2.5. Apparel Average time of order production in Vietnam (day) Average time of order production in some countries (day) Countries US EU Japan China India Vietnam Source: VIRAC Inventory index of textile and apparel industry, 8/ /2017 Source: VIRAC, GSO 91
92 TABLE OF CONTENTS Part II. Industry overview 2. Vietnam textile and apparel industry 2.1. Industry overview 2.2. Input materials 2.3. Spinning 2.4. Textile dyeing 2.5. Apparel 2.6. Distribution and export system 92
93 Part II. Industry overview 2. Vietnam textile and apparel industry 2.6. Distribution and export system Export, distribution and marketing activities Domestic textile and apparel enterprises do not have a large distribution system to the consumers, especially in the international market. In the domestic market, the distribution system is still very limited and the distribution channel development strategy is still problematic. 93
94 Part II. Industry overview 2. Vietnam textile and apparel industry 2.6. Distribution and export system Method of export of textiles and apparel Payment methods 94
95 TABLE OF CONTENTS Part III. Industry outlook and risk 1. Industry risk 1.1. Five Forces analysis 1.2. SWOT analysis 1.3. Risks 95
96 Part III. Industry outlook and risk 1. Industry risk 1.1. Five Forces analysis In general, competition in the textile and apparel industry in Vietnam is high. Competition level of textile and apparel industry in Vietnam Sources: VIRAC collects Factors Opinions Assessment 96
97 Part III. Industry outlook and risk 1. Industry risk 1.1. Five Forces analysis Factors Opinions Assessment Factors Opinions Assessment 97
98 Part III. Industry outlook and risk 1. Industry risk 1.1. Five Forces analysis Factors Opinions Assessment Factors Opinions Assessment 98
99 TABLE OF CONTENTS Part III. Industry outlook and risk 1. Industry risk 1.1. Five Forces analysis 1.2. SWOT analysis 1.3. Risks 99
100 Part III. Industry outlook and risk 1. Industry risk 1.2. SWOT analysis Strengths Weaknesses Opportunities Threats 100
101 MỤC LỤC Part III. Industry outlook and risk 1. Industry risk 1.1. Five Forces analysis 1.2. SWOT analysis 1.3. Risks 101
102 Part III. Industry outlook and risk 1. Industry risk 1.3. Risks Risk of economic integration Competitive risk Legal framework risk 93
103 Part III. Industry outlook and risk 1. Industry risk 1.3. Risks Risk of input materials Economic risk Labor risk 94
104 TABLE OF CONTENTS Part III. Industry outlook and risk 2. Industry outlook 2.1. Industry planning 2.2. Forecast and assessment of industry outlook 104
105 Part III. Industry outlook and risk 2. Industry outlook 2.1. Industry planning On April 11, 2014, the Ministry of Industry and Trade issued Decision No. 3128/QD-BCT approving the master plan for the development of Vietnam's textile and apparel industry to 2020 with a vision to
106 Part III. Industry outlook and risk 2. Industry outlook 2.1. Industry planning Specific targets of the textile and apparel industry to 2030 Indicator Unit
107 MỤC LỤC Part III. Industry outlook and risk 2. Industry outlook 2.1. Industry planning 2.2. Forecast and assessment of industry outlook 107
108 Part III. Industry outlook and risk 2. Industry outlook 2.2. Forecast and assessment of industry outlook USD billion Forecast for textile and garment export turnover, f Source: VIRAC, VINATEX 108
109 Part III. Industry outlook and risk 2. Industry outlook 2.2. Forecast and assessment of industry outlook 109
110 TABLE OF CONTENTS Part IV. Enterprise analysis 1. Garment enterprise analysis 2. Textile and fiber enterprise analysis 110
111 Part IV. Enterprise analysis 1. Garment enterprise analysis Top 8 enterprises in Vietnam apparel industry with the largest net revenue in 2016 Enterprise Address Net revenue (VND billion) Total assets (VND billion) Viet Tien Garment Corporation Hoa Tho Textile Garment JSC Nha Be Garment Corporation JSC Garment Corporation 10 Duc Giang Corporation TNG Investment and Trade JSC Sai Gon Garment Manufacturing Trade JSC Dong Nai Garment Corporation 111
112 Part IV. Enterprise analysis 1. Garment enterprise analysis VIET TIEN GARMENT CORPORATION Production capacity of Viet Tien Corporation Export market structure of Viet Tien, 2015 Source: VIRAC, Viet Tien Garment Company 112
113 Part IV. Enterprise analysis 1. Garment enterprise analysis HOA THO GARMENT CORPORATION Production capacity of Hoa Tho Textile and Garment Corporation Source: VIRAC, Hoa Tho Textile and Garment JSC Textile export market structure of Hoa Tho, 2015 Source: VIRAC, Hoa Tho Textile and Garment JSC 113
114 Part IV. Enterprise analysis 1. Garment enterprise analysis NHA BE GARMENT CORPORATION JSC Export turnover of Nha Be, USD million Source: VIRAC, Nha Be Garment JSC Production capacity of Nha Be Garment JSC Structure of textile export market of Nhà Bè, 2014 Source: VIRAC, Nha Be Garment JSC 114
115 Part IV. Enterprise analysis 1. Garment enterprise analysis GARMENT CORPORATION 10 Production capacity of Garment Corporation 10 Source: VIRAC, Garment Corporation
116 Part IV. Enterprise analysis 1. Garment enterprise analysis Duc Giang Corporation Production capacity of Duc Giang Corporation Structure of textile export market of Duc Giang, 2015 Source: VIRAC, Duc Giang Garment Corporation 116
117 Part IV. Enterprise analysis 1. Garment enterprise analysis THAI NGUYEN INVESTMENT AND TRADING JOINT STOCK COMPANY Production capacity of TNG Structure of textile export market of TNG, 2015 Source: VIRAC, TNG 117
118 Part IV. Enterprise analysis 1. Garment enterprise analysis SAI GON GARMENT MANUFACTURING TRADING JOINT STOCK COMPANY 118
119 Part IV. Enterprise analysis 1. Garment enterprise analysis Dong Nai Garment Corporation Structure of textile export market of Dong Nai Garment, 2014 Source: VIRAC, Dong Nai Garment JSC 119
120 Part IV. Enterprise analysis 1. Garment enterprise analysis Net revenue, VND billion Source: VIRAC 120
121 Part IV. Enterprise analysis 1. Garment enterprise analysis VND billion Gross profit margin, VND billion Net profit and net profit margin, Source: VIRAC 121
122 Part IV. Enterprise analysis 1. Garment enterprise analysis Financial expenses of businesses tended to decrease in VND billion Financial expenses and financial expenses/net revenue ratio, Source: VIRAC 122
123 Part IV. Enterprise analysis 1. Garment enterprise analysis VND billion Debt/Equity ratio, Source: VIRAC 123
124 Part IV. Enterprise analysis 1. Garment enterprise analysis Solvency ratio, Content is intentionally removed Source: for VIRAC demo purpose % Profit Ratio, Source: VIRAC 124
125 TABLE OF CONTENTS Part IV. Enterprise analysis 1. Garment enterprise analysis 2. Textile and fiber enterprise analysis 125
126 Part IV. Enterprise analysis 2. Textile and fiber enterprise analysis Vietnam's top 5 textile and yarn enterprises with the largest net revenue, 2016 (VND billion) Enterprise Address Net revenue (VND billion) Total assets (VND billion) Thanh Cong Textile Garment Investment Trading JSC Phong Phu Corporation Viet Thang Corporation Hue Textile Garment JSC Century Synthetic Fiber Corporation 126
127 Part IV. Enterprise analysis 2. Textile and fiber enterprise analysis Thanh Cong Textile Garment Investment Trading JSC Yarn quality of Thanh Cong Textile Garment Investment Trading JSC Product Volume Structure of textile export market of TCG, 2014 Source: VIRAC, TCG 127
128 Part IV. Enterprise analysis 2. Textile and fiber enterprise analysis Production capacity of Thanh Cong Textile Garment Investment Trading JSC Product Production capacity Machinery, input materials 128
129 Part IV. Enterprise analysis 2. Textile and fiber enterprise analysis Phong Phu Corporation Production capacity of Phong Phu Corporation Structure of textile export market of Phong Phú 2014 Source: VIRAC, Phong Phu Corp 129
130 Part IV. Enterprise analysis 2. Textile and fiber enterprise analysis Viet Thang Corporation Product Description 130
131 Part IV. Enterprise analysis 2. Textile and fiber enterprise analysis Hue Textile Garment JSC Production capacity of Hue Textile Garment JSC 131
132 Part IV. Enterprise analysis 2. Textile and fiber enterprise analysis Century Synthetic Fiber Corporation Ton Fiber consumption structure of Century Synthetic Fiber Corporation, Ton Fiber production of Century Fiber, Source: VIRAC, Centery Fiber Source: VIRAC, Century Fiber 132
133 Part IV. Enterprise analysis 2. Textile and fiber enterprise analysis VND billion Net revenue of textile and fiber enterprises, Source: VIRAC 133
134 Part IV. Enterprise analysis 2. Textile and fiber enterprise analysis Gross profit of textile and fiber enterprises, VND billion Source: VIRAC VND billion Net profit of textile and fiber enterprises, Source: VIRAC 134
135 Part IV. Enterprise analysis 2. Textile and fiber enterprise analysis VND billion Financial expenses, 2016 Source: VIRAC 135
136 Part IV. Enterprise analysis 2. Textile and fiber enterprise analysis Round Total asset turnover, Source: VIRAC Day Days in inventory, Source: VIRAC 136
137 Part IV. Enterprise analysis 2. Textile and fiber enterprise analysis Some financial indicators in 2016 Source: VIRAC 137
138 TABLE OF CONTENTS Part V: Conclusion 138
139 Part V: Conclusion 139
140 TABLE OF CONTENTS Appendix 140
141 VIII. Appendix Financial statements - Viet Tien Garment Corporation BALANCE SHEET INCOME STATEMENT Unit: VND million Unit: VND million Net Revenue from Sales and services provided A. CURRENT ASSETS I. Cash and cash equivalents II. Short-term financial investments III. Short-term receivables 1. Receivables from customers Cost of goods sold and services provided Gross Profit from sales and services provided Financing income Financial expenses Interest expenses Sales expenses IV. Inventories B. LONG-TERM ASSETS Administrative expenses Net profit from operating activities I. Long-term receivables Total Accounting Profit Before Tax Content is intentionally removed Current Corporate Income Tax demo Expenses purpose II. Fixed assets TOTAL ASSETS Deferred Corporate Income Tax Expenses Profit After Enterprise Income Tax A. LIABILITIES I. Short-term Liabilities 1. Short-term Borrowings and Liabilities 2. Taxes and other payables to the State budget II. Long-term liabilities 1. Long-term borrowings and liabilities 2. Long-term provisions for payables B. OWNER'S EQUITY I. Owner's equity II. Other funding sources TOTAL LIABILITIES AND OWNER'S EQUITY CASH FLOW STATEMENT Unit: VND million I. Cash Flow From Operating activities Depreciation of fixed assets Unrealized gain/loss from exchange rate differences Net Cash Flow From Operating activities II. Cash Flow From Investing activities Expenditures on purchase and construction of fixed assets and long-term assets Net Cash Flow From Investing activities III. Cash Flow From Financial activities Net Cash Flow From Financial activities Effect of exchange rate fluctuations Net cash flow during the fiscal year 133
142 VIII. Appendix Financial statements - Hoa Tho Textile Garment JSC BALANCE SHEET INCOME STATEMENT Unit: VND million Unit: VND million A. CURRENT ASSETS Net Revenue from Sales and services provided Cost of goods sold and services provided I. Cash and cash equivalents Gross Profit from sales and services provided II. Short-term financial investments III. Short-term receivables 1. Receivables from customers IV. Inventories B. LONG-TERM ASSETS Financing income Financial expenses Interest expenses Sales expenses Administrative expenses Net profit from operating activities I. Long-term receivables Total Accounting Profit Before Tax II. Fixed assets Current Corporate Income Tax Expenses TOTAL ASSETS Deferred Corporate Income Tax Expenses Content is intentionally removed Profit After Enterprise for Income demo Tax purpose A. LIABILITIES CASH FLOW STATEMENT I. Short-term Liabilities 1. Short-term Borrowings and Liabilities 2. Taxes and other payables to the State budget II. Long-term liabilities 1. Long-term borrowings and liabilities 2. Long-term provisions for payables B. OWNER'S EQUITY I. Owner's equity II. Other funding sources Unit: VND million I. Cash Flow From Operating activities Depreciation of fixed assets Unrealized gain/loss from exchange rate differences Net Cash Flow From Operating activities II. Cash Flow From Investing activities Expenditures on purchase and construction of fixed assets and long-term assets Net Cash Flow From Investing activities III. Cash Flow From Financial activities TOTAL LIABILITIES AND OWNER'S EQUITY Net Cash Flow From Financial activities Effect of exchange rate fluctuations Net cash flow during the fiscal year 134
143 VIII. Appendix Financial statements Nha Be Garment Corporation BALANCE SHEET INCOME STATEMENT Unit: VND million Unit: VND million A. CURRENT ASSETS Net Revenue from Sales and services provided Cost of goods sold and services provided I. Cash and cash equivalents II. Short-term financial investments III. Short-term receivables 1. Receivables from customers Gross Profit from sales and services provided Financing income Financial expenses Interest expenses Sales expenses IV. Inventories Administrative expenses B. LONG-TERM ASSETS Net profit from operating activities I. Long-term receivables II. Fixed assets TOTAL ASSETS Total Accounting Profit Before Tax Current Corporate Income Tax Expenses Deferred Corporate Income Tax Expenses Profit After Enterprise Income Tax A. LIABILITIES Revenue from Sales and services provided I. Short-term Liabilities 1. Short-term Borrowings and Liabilities 2. Taxes and other payables to the State budget II. Long-term liabilities 1. Long-term borrowings and liabilities 2. Long-term provisions for payables B. OWNER'S EQUITY I. Owner's equity II. Other funding sources TOTAL LIABILITIES AND OWNER'S EQUITY CASH FLOW STATEMENT Unit: VND million I. Cash Flow From Operating activities Depreciation of fixed assets Unrealized gain/loss from exchange rate differences Net Cash Flow From Operating activities II. Cash Flow From Investing activities Expenditures on purchase and construction of fixed assets and long-term assets Net Cash Flow From Investing activities III. Cash Flow From Financial activities Net Cash Flow From Financial activities Effect of exchange rate fluctuations Net cash flow during the fiscal year 135
144 VIII. Appendix Financial statements Garment Corporation 10 - JSC BALANCE SHEET INCOME STATEMENT Unit: VND million Unit: VND million A. CURRENT ASSETS I. Cash and cash equivalents II. Short-term financial investments III. Short-term receivables Net Revenue from Sales and services provided Cost of goods sold and services provided Gross Profit from sales and services provided Financing income Financial expenses 1. Receivables from customers Interest expenses IV. Inventories B. LONG-TERM ASSETS I. Long-term receivables II. Fixed assets Sales expenses Administrative expenses Net profit from operating activities Total Accounting Profit Before Tax Current Corporate Income Tax Expenses TOTAL ASSETS Deferred Corporate Income Tax Expenses A. LIABILITIES Profit After Enterprise Income Tax I. Short-term Liabilities 1. Short-term Borrowings and Liabilities 2. Taxes and other payables to the State budget II. Long-term liabilities 1. Long-term borrowings and liabilities 2. Long-term provisions for payables B. OWNER'S EQUITY I. Owner's equity II. Other funding sources TOTAL LIABILITIES AND OWNER'S EQUITY CASH FLOW STATEMENT Unit: VND million I. Cash Flow From Operating activities Depreciation of fixed assets Unrealized gain/loss from exchange rate differences Net Cash Flow From Operating activities II. Cash Flow From Investing activities Expenditures on purchase and construction of fixed assets and long-term assets Net Cash Flow From Investing activities III. Cash Flow From Financial activities Net Cash Flow From Financial activities Effect of exchange rate fluctuations Net cash flow during the fiscal year 136
145 VIII. Appendix Financial statements Duc Giang Corporation BALANCE SHEET INCOME STATEMENT Unit: VND million Unit: VND million A. CURRENT ASSETS Net Revenue from Sales and services provided Cost of goods sold and services provided I. Cash and cash equivalents Gross Profit from sales and services provided II. Short-term financial investments Financing income III. Short-term receivables Financial expenses 1. Receivables from customers Interest expenses IV. Inventories B. LONG-TERM ASSETS Sales expenses Administrative expenses Net profit from operating activities I. Long-term receivables Total Accounting Profit Before Tax II. Fixed assets TOTAL ASSETS Current Corporate Income Tax Expenses Deferred Corporate Income Tax Expenses Profit After Enterprise Income Tax A. LIABILITIES Revenue from Sales and services provided I. Short-term Liabilities 1. Short-term Borrowings and Liabilities 2. Taxes and other payables to the State budget II. Long-term liabilities 1. Long-term borrowings and liabilities 2. Long-term provisions for payables B. OWNER'S EQUITY I. Owner's equity II. Other funding sources TOTAL LIABILITIES AND OWNER'S EQUITY CASH FLOW STATEMENT Unit: VND million I. Cash Flow From Operating activities Depreciation of fixed assets Unrealized gain/loss from exchange rate differences Net Cash Flow From Operating activities II. Cash Flow From Investing activities Expenditures on purchase and construction of fixed assets and long-term assets Net Cash Flow From Investing activities III. Cash Flow From Financial activities Net Cash Flow From Financial activities Effect of exchange rate fluctuations Net cash flow during the fiscal year 137
146 VIII. Appendix Financial statements - TNG Investment and Trade JSC BALANCE SHEET INCOME STATEMENT Unit: VND million Unit: VND million A. CURRENT ASSETS Net Revenue from Sales and services provided Cost of goods sold and services provided I. Cash and cash equivalents Gross Profit from sales and services provided II. Short-term financial investments III. Short-term receivables 1. Receivables from customers Financing income Financial expenses Interest expenses Sales expenses IV. Inventories B. LONG-TERM ASSETS I. Long-term receivables II. Fixed assets Administrative expenses Net profit from operating activities Total Accounting Profit Before Tax Current Corporate Income Tax Expenses TOTAL ASSETS Deferred Corporate Income Tax Expenses Profit After Enterprise Income Tax A. LIABILITIES I. Short-term Liabilities 1. Short-term Borrowings and Liabilities 2. Taxes and other payables to the State budget II. Long-term liabilities 1. Long-term borrowings and liabilities 2. Long-term provisions for payables B. OWNER'S EQUITY I. Owner's equity II. Other funding sources TOTAL LIABILITIES AND OWNER'S EQUITY CASH FLOW STATEMENT Unit: VND million I. Cash Flow From Operating activities Depreciation of fixed assets Unrealized gain/loss from exchange rate differences Net Cash Flow From Operating activities II. Cash Flow From Investing activities Expenditures on purchase and construction of fixed assets and long-term assets Net Cash Flow From Investing activities III. Cash Flow From Financial activities Net Cash Flow From Financial activities Effect of exchange rate fluctuations Net cash flow during the fiscal year 138
147 VIII. Appendix Financial statements Sai Gon Garment Manufacturing Trading Corporation BALANCE SHEET INCOME STATEMENT Unit: VND million Unit: VND million A. CURRENT ASSETS Net Revenue from Sales and services provided Cost of goods sold and services provided I. Cash and cash equivalents Gross Profit from sales and services provided II. Short-term financial investments III. Short-term receivables 1. Receivables from customers IV. Inventories B. LONG-TERM ASSETS Financing income Financial expenses Interest expenses Sales expenses Administrative expenses Net profit from operating activities I. Long-term receivables Total Accounting Profit Before Tax II. Fixed assets Current Corporate Income Tax Expenses TOTAL ASSETS Deferred Corporate Income Tax Expenses Content is intentionally removed Profit After Enterprise for Income demo Tax purpose A. LIABILITIES CASH FLOW STATEMENT I. Short-term Liabilities 1. Short-term Borrowings and Liabilities 2. Taxes and other payables to the State budget II. Long-term liabilities 1. Long-term borrowings and liabilities 2. Long-term provisions for payables Unit: VND million I. Cash Flow From Operating activities Depreciation of fixed assets Unrealized gain/loss from exchange rate differences Net Cash Flow From Operating activities II. Cash Flow From Investing activities Expenditures on purchase and construction of fixed assets B. OWNER'S EQUITY I. Owner's equity and long-term assets Net Cash Flow From Investing activities II. Other funding sources TOTAL LIABILITIES AND OWNER'S EQUITY III. Cash Flow From Financial activities Net Cash Flow From Financial activities Effect of exchange rate fluctuations Net cash flow during the fiscal year 139
148 VIII. Appendix Financial statements Dong Nai Garment Corporation BALANCE SHEET INCOME STATEMENT Unit: VND million Unit: VND million A. CURRENT ASSETS Net Revenue from Sales and services provided Cost of goods sold and services provided I. Cash and cash equivalents Gross Profit from sales and services provided II. Short-term financial investments III. Short-term receivables 1. Receivables from customers IV. Inventories B. LONG-TERM ASSETS Financing income Financial expenses Interest expenses Sales expenses Administrative expenses Net profit from operating activities I. Long-term receivables Total Accounting Profit Before Tax II. Fixed assets Current Corporate Income Tax Expenses TOTAL ASSETS Deferred Corporate Income Tax Expenses Content is intentionally removed Profit After Enterprise for Income demo Tax purpose A. LIABILITIES CASH FLOW STATEMENT I. Short-term Liabilities 1. Short-term Borrowings and Liabilities 2. Taxes and other payables to the State budget II. Long-term liabilities 1. Long-term borrowings and liabilities Unit: VND million I. Cash Flow From Operating activities Depreciation of fixed assets Unrealized gain/loss from exchange rate differences Net Cash Flow From Operating activities II. Cash Flow From Investing activities Long-term provisions for payables B. OWNER'S EQUITY I. Owner's equity II. Other funding sources Expenditures on purchase and construction of fixed assets and long-term assets Net Cash Flow From Investing activities III. Cash Flow From Financial activities TOTAL LIABILITIES AND OWNER'S EQUITY Net Cash Flow From Financial activities Effect of exchange rate fluctuations Net cash flow during the fiscal year 140
149 VIII. Appendix Financial statements Phong Phu Corporation BALANCE SHEET INCOME STATEMENT Unit: VND million Unit: VND million A. CURRENT ASSETS Net Revenue from Sales and services provided Cost of goods sold and services provided I. Cash and cash equivalents Gross Profit from sales and services provided II. Short-term financial investments III. Short-term receivables 1. Receivables from customers IV. Inventories B. LONG-TERM ASSETS Financing income Financial expenses Interest expenses Sales expenses Administrative expenses Net profit from operating activities I. Long-term receivables Total Accounting Profit Before Tax II. Fixed assets Current Corporate Income Tax Expenses TOTAL ASSETS Deferred Corporate Income Tax Expenses Content is intentionally removed Profit After Enterprise for Income demo Tax purpose A. LIABILITIES I. Short-term Liabilities 1. Short-term Borrowings and Liabilities 2. Taxes and other payables to the State budget II. Long-term liabilities 1. Long-term borrowings and liabilities 2. Long-term provisions for payables B. OWNER'S EQUITY I. Owner's equity II. Other funding sources TOTAL LIABILITIES AND OWNER'S EQUITY CASH FLOW STATEMENT Unit: VND million I. Cash Flow From Operating activities Depreciation of fixed assets Unrealized gain/loss from exchange rate differences Net Cash Flow From Operating activities II. Cash Flow From Investing activities Expenditures on purchase and construction of fixed assets and long-term assets Net Cash Flow From Investing activities III. Cash Flow From Financial activities Net Cash Flow From Financial activities Effect of exchange rate fluctuations Net cash flow during the fiscal year 141
150 VIII. Appendix Financial statements Viet Thang Corporation BALANCE SHEET INCOME STATEMENT Unit: VND million Unit: VND million A. CURRENT ASSETS Net Revenue from Sales and services provided Cost of goods sold and services provided I. Cash and cash equivalents Gross Profit from sales and services provided II. Short-term financial investments III. Short-term receivables 1. Receivables from customers IV. Inventories B. LONG-TERM ASSETS Financing income Financial expenses Interest expenses Sales expenses Administrative expenses Net profit from operating activities I. Long-term receivables Total Accounting Profit Before Tax II. Fixed assets Current Corporate Income Tax Expenses TOTAL ASSETS Deferred Corporate Income Tax Expenses Content is intentionally removed Profit After Enterprise for Income demo Tax purpose A. LIABILITIES I. Short-term Liabilities 1. Short-term Borrowings and Liabilities 2. Taxes and other payables to the State budget II. Long-term liabilities 1. Long-term borrowings and liabilities 2. Long-term provisions for payables B. OWNER'S EQUITY I. Owner's equity II. Other funding sources TOTAL LIABILITIES AND OWNER'S EQUITY CASH FLOW STATEMENT Unit: VND million I. Cash Flow From Operating activities Depreciation of fixed assets Unrealized gain/loss from exchange rate differences Net Cash Flow From Operating activities II. Cash Flow From Investing activities Expenditures on purchase and construction of fixed assets and long-term assets Net Cash Flow From Investing activities III. Cash Flow From Financial activities Net Cash Flow From Financial activities Effect of exchange rate fluctuations Net cash flow during the fiscal year 142
151 VIII. Appendix Financial statements Thanh Cong Textile Garment Investment Trading JSC BALANCE SHEET INCOME STATEMENT Unit: VND million Unit: VND million A. CURRENT ASSETS Net Revenue from Sales and services provided Cost of goods sold and services provided I. Cash and cash equivalents Gross Profit from sales and services provided II. Short-term financial investments III. Short-term receivables 1. Receivables from customers IV. Inventories B. LONG-TERM ASSETS Financing income Financial expenses Interest expenses Sales expenses Administrative expenses Net profit from operating activities I. Long-term receivables Total Accounting Profit Before Tax II. Fixed assets Current Corporate Income Tax Expenses TOTAL ASSETS Deferred Corporate Income Tax Expenses Content is intentionally removed Profit After Enterprise for Income demo Tax purpose A. LIABILITIES I. Short-term Liabilities 1. Short-term Borrowings and Liabilities 2. Taxes and other payables to the State budget II. Long-term liabilities 1. Long-term borrowings and liabilities 2. Long-term provisions for payables B. OWNER'S EQUITY I. Owner's equity II. Other funding sources TOTAL LIABILITIES AND OWNER'S EQUITY CASH FLOW STATEMENT Unit: VND million I. Cash Flow From Operating activities Depreciation of fixed assets Unrealized gain/loss from exchange rate differences Net Cash Flow From Operating activities II. Cash Flow From Investing activities Expenditures on purchase and construction of fixed assets and long-term assets Net Cash Flow From Investing activities III. Cash Flow From Financial activities Net Cash Flow From Financial activities Effect of exchange rate fluctuations Net cash flow during the fiscal year 143
152 VIII. Appendix Financial statements Century Synthetic Fiber Corporation BALANCE SHEET INCOME STATEMENT Unit: VND million Unit: VND million Net Revenue from Sales and services provided A. CURRENT ASSETS I. Cash and cash equivalents II. Short-term financial investments III. Short-term receivables Cost of goods sold and services provided Gross Profit from sales and services provided Financing income Financial expenses Interest expenses 1. Receivables from customers IV. Inventories B. LONG-TERM ASSETS I. Long-term receivables Sales expenses Administrative expenses Net profit from operating activities Total Accounting Profit Before Tax Current Corporate Income Tax Expenses II. Fixed assets Deferred Corporate Income Tax Expenses TOTAL ASSETS Profit After Enterprise Income Tax A. LIABILITIES I. Short-term Liabilities CASH FLOW STATEMENT 1. Short-term Borrowings and Liabilities 2. Taxes and other payables to the State budget II. Long-term liabilities 1. Long-term borrowings and liabilities Unit: VND million I. Cash Flow From Operating activities Depreciation of fixed assets Unrealized gain/loss from exchange rate differences Net Cash Flow From Operating activities Long-term provisions for payables B. OWNER'S EQUITY I. Owner's equity II. Other funding sources TOTAL LIABILITIES AND OWNER'S EQUITY II. Cash Flow From Investing activities Expenditures on purchase and construction of fixed assets and long-term assets Net Cash Flow From Investing activities III. Cash Flow From Financial activities Net Cash Flow From Financial activities Effect of exchange rate fluctuations Net cash flow during the fiscal year 144
153 VIII. Appendix Financial statements Hue Textile Garment JSC BALANCE SHEET INCOME STATEMENT Unit: VND million Unit: VND million A. CURRENT ASSETS Net Revenue from Sales and services provided Cost of goods sold and services provided I. Cash and cash equivalents Gross Profit from sales and services provided II. Short-term financial investments III. Short-term receivables 1. Receivables from customers IV. Inventories B. LONG-TERM ASSETS Financing income Financial expenses Interest expenses Sales expenses Administrative expenses Net profit from operating activities I. Long-term receivables Total Accounting Profit Before Tax II. Fixed assets Current Corporate Income Tax Expenses TOTAL ASSETS Deferred Corporate Income Tax Expenses Content is intentionally removed Profit After Enterprise for Income demo Tax purpose A. LIABILITIES Revenue from Sales and services provided I. Short-term Liabilities 1. Short-term Borrowings and Liabilities 2. Taxes and other payables to the State budget II. Long-term liabilities 1. Long-term borrowings and liabilities 2. Long-term provisions for payables B. OWNER'S EQUITY I. Owner's equity II. Other funding sources TOTAL LIABILITIES AND OWNER'S EQUITY CASH FLOW STATEMENT Unit: VND million I. Cash Flow From Operating activities Depreciation of fixed assets Unrealized gain/loss from exchange rate differences Net Cash Flow From Operating activities II. Cash Flow From Investing activities Expenditures on purchase and construction of fixed assets and long-term assets Net Cash Flow From Investing activities III. Cash Flow From Financial activities Net Cash Flow From Financial activities Effect of exchange rate fluctuations Net cash flow during the fiscal year 145
154 REPORT DISCLAIMER Report disclaimer This document has been prepared in good faith on the basis of information available at the date of publication without any independent verification. VIRAC has produced this report for private circulation to professional clients only. All information and statistical data herein have been obtained from sources we believe to be reliable and made to ensure the accuracy of the contents of the pages of the report at the time of preparation. Such information has not been independently verified and VIRAC makes no representation or warranty, whether express or implied, of any kind with respect to the document and its contents, information and materials. The content found in this report is proprietary to VIRAC and is provided solely for your personal and non-commercial use. You agree that you will not use this report for any purpose that is unlawful and that you will not reproduce the report or redistribute it outside your organization, or place it on a website for public access without the express written permission of VIRAC. SHOULD YOU NEED ANY ASSISTANCE, PLEASE CONTACT US: VIETNAM INDUSTRY RESEARCH AND CONSULTANCY (VIRAC JSC.,) 6 th Floor, Anh Minh Building, 36 Hoang Cau, O Cho Dua, Dong Da, Hanoi, Vietnam Website: viracresearch@virac.com.vn Tel:
155 Thank you! 155
VIETNAM TEXTILE AND APPAREL INDUSTRY REPORT Q2/2018
VIETNAM TEXTILE AND APPAREL INDUSTRY REPORT Q2/2018 1 TABLE OF CONTENTS Contents Page Contents Page ABBREVIATIONS 4 1.4. Textile dyeing 43 SUMMARY 5 1.5. Apparel 47 I. Business environment 7 1.6. Distribution
More informationVIETNAM FERTILIZER INDUSTRY REPORT Q2/2018
VIETNAM FERTILIZER INDUSTRY REPORT Q2/2018 Content Executive summary 4 1. Business environment 6 1.1 Macroeconomic situation 7 1.2 Legal framework 10 1.3 Trade agreements 17 2. Industry overview 20 2.1
More informationVIETNAM PULP AND PAPER INDUSTRY REPORT Q2/2018
VIETNAM PULP AND PAPER INDUSTRY REPORT Q2/2018 1 Table of contents Content Page Content Page Abbreviations 4 2.1.4. Price movement of some types of pulp 32 Summary 5 2.2. Paper 34 1. Business environment
More informationVIETNAM FERTILIZER INDUSTRY REPORT Q3/2018
VIETNAM FERTILIZER INDUSTRY REPORT Q3/2018 Content Executive summary 4 1. Business environment 6 1.1 Macroeconomic situation 7 1.2 Legal framework 10 1.3 Trade agreements 18 2. Industry overview 21 2.1
More informationVIETNAM LEATHER AND FOOTWEAR INDUSTRY REPORT Q1/2018
VIETNAM LEATHER AND FOOTWEAR INDUSTRY REPORT Q1/2018 Contents Executive summary 5 1. Business environment 7 2.3.4 Import export 36 1.1 Macroeconomic situation 7 2.3.5 Price movements 37 1.2 Legal framework
More informationVIETNAM CEMENT INDUSTRY REPORT Q3/2018
VIETNAM CEMENT INDUSTRY REPORT Q3/2018 1 Content Summary 5 2.1.7 Current status of consumption and production in ASEAN 35 1. Business environment 8 2.1.8 Leading enterprises in the industry 36 1.1 Macroeconomic
More informationVIETNAM RICE-PADDY INDUSTRY REPORT Q2/2018
VIETNAM RICE-PADDY INDUSTRY REPORT Q2/2018 1 Content Content Page Content Page Abbreviations 2.5 Consumption Summary 2.6 Global rice trade 1. Business Environment 2.7 Price movements 1.1 Macroeconomic
More informationVIETNAM PHARMACEUTICAL INDUSTRY REPORT Q2/2018
VIETNAM PHARMACEUTICAL INDUSTRY REPORT Q2/2018 1 Content Executive Summary 4 1. Business environment 6 1.1 Macroeconomic situation 6 1.2 Legal framework 10 1.3 Trade agreements 19 2. Pharmaceutical Industry
More informationVIETNAM CHEMICAL INDUSTRY REPORT Q2/2018
VIETNAM CHEMICAL INDUSTRY REPORT Q2/2018 TABLE OF CONTENTS Content Page Content Page Abbreviations 4 2.5. Current status of the regional chemical industry 29 Summary 5 2.6. Some typical chemicals producing
More informationVIETNAM PHARMACEUTICAL INDUSTRY REPORT Q4/2017
VIETNAM PHARMACEUTICAL INDUSTRY REPORT Q4/2017 1 Content Executive Summary 4 1. Business Environment 6 1.1 Macroeconomic Situation 6 1.2 Legal Barriers 10 1.3 Impacts of Free Trade Agreement 18 2. Vietnam
More informationVIETNAM CEMENT INDUSTRY REPORT Q1/2018
VIETNAM CEMENT INDUSTRY REPORT Q1/2018 1 Content Summary 5 2.1.7 Current status of consumption and production in ASEAN 35 1. Business environment 7 2.1.8 Leading enterprises in the industry 36 1.1 Macroeconomic
More informationVIETNAM CEMENT INDUSTRY REPORT Q2/2018
VIETNAM CEMENT INDUSTRY REPORT Q2/2018 1 Content Summary 5 2.1.7 Current status of consumption and production in ASEAN 36 1. Business environment 8 2.1.8 Leading enterprises in the industry 37 1.1 Macroeconomic
More informationVIETNAM PETROCHEMICAL INDUSTRY REPORT Q2/2018
VIETNAM PETROCHEMICAL INDUSTRY REPORT Q2/2018 Content Abbreviations 4 2.8 Situations in some typical countries 65 Executive Summary 5 3. Vietnam petrochemical industry 74 1. Business environment 7 3.1
More informationVIETNAM ELECTRONIC COMPONENT REPORT Q4 / 2017
VIETNAM ELECTRONIC COMPONENT REPORT Q4 / 2017 1 Content Name Page Name Page Abbreviations 3 2.2.1. History of industry formation and development 51 Summary 4 2.2.2. Status of the value chain linkage in
More informationELECTRONIC COMPONENTS INDUSTRY REPORT IN Q2/2018
ELECTRONIC COMPONENTS INDUSTRY REPORT IN Q2/2018 1 Content Section Page Section Page Abbreviations 3 2.2.1. History of industry establishment and development 51 Executive summary 4 2.2.2. Value chains
More informationVIETNAM FISHERY INDUSTRY REPORT Q2/2018
VIETNAM FISHERY INDUSTRY REPORT Q2/2018 1 Contents Executive summary 4 3. Vietnam seafood market 53 1. Business environment 5 3.1 Characteristics of the Vietnamese fishery industry 53 1.1 Macroeconomic
More informationELECTRONIC COMPONENTS INDUSTRY REPORT IN Q1/2018
ELECTRONIC COMPONENTS INDUSTRY REPORT IN Q1/2018 1 Content Section Page Section Page Abbreviations 3 2.2.1. History of industry establishment and development 50 Executive summary 4 2.2.2. Value chains
More informationINVESTMENT IN TEXTILE IN VIETNAM Presented by: Mr. Nguyen Van Tuan Chairman of Vietnam Cotton and Spinning Association (VCOSA)
INVESTMENT IN TEXTILE IN VIETNAM 2017-2025 Presented by: Mr. Nguyen Van Tuan Chairman of Vietnam Cotton and Spinning Association (VCOSA) 1 Content I. Vietnam Textile Industry 2000 2016 in overview II.
More informationBANKING INDUSTRY REPORT Q2/2018
BANKING INDUSTRY REPORT Q2/2018 1 Content Executive summary 4 2.1.3 Interbank interest rate movement of some countries 34 1. Macroeconomic situation affecting the banking industry 5 2.2 Some basic indicators
More informationTHANH CONG SECURITIES COMPANY Floor 3&5, Centec Tower, Nguyen Thi Minh Khai, Dis.3, HCMC Phone : + 84 (08) Website:
THANH CONG SECURITIES COMPANY Floor 3&5, Centec Tower, 72-74 Nguyen Thi Minh Khai, Dis.3, HCMC Phone : + 84 (08) 3 827 0527 Website: www.tcsc.vn MONTHLY REPORT MAY 2012 Research Department research@tcsc.vn
More informationTrần Thanh Hải (Mr.) Deputy Director General Agency of Foreign Trade Ministry of Industry and Trade of Viet Nam
Trần Thanh Hải (Mr.) Deputy Director General Agency of Foreign Trade Ministry of Industry and Trade of Viet Nam Major content Consecutive growth of Viet Nam s textile and garment industry FDI s growth
More informationHEALTH INSURANCE REPORT 2017
HEALTH INSURANCE REPORT 2017 Content Abbreviation 3 2.4.2 Public Health Insurance 36 Summary 4 2.4.3 Private Health Insurance 45 1. Business Environment 7 Life Insurance 46 1.1 Macroeconomic situations
More informationTHANH CONG SECURITIES COMPANY Floor 3&5, Centec Tower, Nguyen Thi Minh Khai, Dis.3, HCMC Phone : + 84 (08) Website:
THANH CONG SECURITIES COMPANY Floor 3&5, Centec Tower, 72-74 Nguyen Thi Minh Khai, Dis.3, HCMC Phone : + 84 (08) 3 827 0527 Website: www.tcsc.vn MONTHLY REPORT JULY 2012 Research Department research@tcsc.vn
More informationVIETNAM RICE-PADDY INDUSTRY REPORT
VIETNAM RICE-PADDY INDUSTRY REPORT 1 Content Content Page Content Page Abbreviations 2.5 Consumption Summary 2.6 Global rice trade 1. Business Environment 2.7 Price movements 1.1 Macroeconomic Situation
More informationTHANH CONG SECURITIES COMPANY Floor 3&5, Centec Tower, Nguyen Thi Minh Khai, Dis.3, HCMC Phone : + 84 (08) Website:
THANH CONG SECURITIES COMPANY Floor 3&5, Centec Tower, 72-74 Nguyen Thi Minh Khai, Dis.3, HCMC Phone : + 84 (08) 3 827 0527 Website: www.tcsc.vn MONTHLY REPORT AUGUST 2012 Research Department research@tcsc.vn
More informationInternational Development & Investment Corporation I.D.I (HOSE- IDI)
COMPANY UPDATE 22/12/2015 International Development & Investment Corporation I.D.I (HOSE- IDI) STRONG GROWTH THANKS TO SOARING EXPORTS TO CHINA One of Vietnam s leading Pangasius fillet processing companies,
More informationSTRATEGIC LOCATION. Vinh
STRATEGIC LOCATION CHINA LAOS THAILAND HANOI CAMBODIA NGHE AN Vinh Located in the center of the North Central Coast region of Vietnam. Connect North East Thailand, Laos to the South China Sea. It is a
More informationOPPORTUNITIES AND CHALLENGES FOR VIETNAM S TEXTILE AND GARMENT EXPORTS IN TPP AND EU-VIETNAM FTA
OPPORTUNITIES AND CHALLENGES FOR VIETNAM S TEXTILE AND GARMENT EXPORTS IN TPP AND EU-VIETNAM FTA International Trade and Economics Series June 2016 DISCLAIMER We endeavour to report accurate information
More informationHUNG VUONG CORPORATION
HUNG VUONG CORPORATION OCTOBER 2010 1 MAIN CONTENTS 1. BUSINESS OVERVIEW 2. BUSINESS ACTIVITIES 3. FISHERY INDUSTRY OVERVIEW 4. BUSINESS RESULTS 5. BUSINESS STRATEGY & PLAN 6. PEER COMPARISION 7. FINANCIAL
More informationThe PCI-Foreign Invested Enterprises 2011 Survey American Chamber of Commerce June 6, 2012, New Saigon World Hotel, HCMC
The PCI-Foreign Invested Enterprises 2011 Survey American Chamber of Commerce June 6, 2012, New Saigon World Hotel, HCMC Jim Winkler, Ph.D. USAID/VNCI Director Findings taken from the PCI 2011 report,
More informationVIETNAM BRIEF ABOUT THE COUNTRY AND OPPORTUNITIES IN DOING BUSINESS
VIETNAM BRIEF ABOUT THE COUNTRY AND OPPORTUNITIES IN DOING BUSINESS 1 CONTENTS: I. OVERVIEW OF ECONOMY IN VIETNAM II. III. IV. OVERVIEW OF FDI IN VIETNAM PROCEDURES FOR INVESTMENT TIPS FOR DOING BUSINESS
More informationTHANH CONG SECURITIES COMPANY Floor 3&5, Centec Tower, Nguyen Thi Minh Khai, Dis.3, HCMC Phone : + 84 (08) Website:
THANH CONG SECURITIES COMPANY Floor 3&5, Centec Tower, 72-74 Nguyen Thi Minh Khai, Dis.3, HCMC Phone : + 84 (08) 3 827 0527 Website: www.tcsc.vn MONTHLY REPORT MARCH 2012 Research Department research@tcsc.vn
More informationTHE IMPACT OF FINANCIAL TURMOIL ON THE WORLD COTTON AND TEXTILE MARKET
THE IMPACT OF FINANCIAL TURMOIL ON THE WORLD COTTON AND TEXTILE MARKET Presented by Paul Morris Chairman of the Standing Committee INTERNATIONAL COTTON ADVISORY COMMITTEE 1999 China International Cotton
More informationLIQUEFIED PETROLEUM GAS SECTOR SECTOR OVERVIEW
LIQUEFIED PETROLEUM GAS SECTOR SECTOR NOTE Jan 2012 Listed corporations Petrolimex Gas JSC. Petro Vietnam Southern Gas JSC. Petro Vietnam Northern Gas JSC. MT Gas JSC. An Pha S.G. Petrol JSC. PetroVietnam
More informationOutlook for Central Vietnam, including Tax Incentives
Outlook for Central Vietnam, including Tax Incentives Presentation by Nguyen Quang Phuc, Director, Tax and Advisory Services ECV Business Forum, 24 November 2017 Outlook for Central Vietnam, including
More informationStudy on Impact of Economic slowdown on Indian. Textile and Clothing Industry. June, 2009
Study on Impact of Economic slowdown on Indian Textile and Clothing Industry June, 2009 Table of Contents Table of Contents Section-1 Section-2 Project background & Approach to the study Analysis of Indian
More information- RM Cost Employee Cost Other Cost
Textiles industry topline up, but margins down significantly Overall sales of top companies have increased marginally, while EBITDA margins have declined significantly for, reveals the latest Wazir Advisors
More informationVIETNAM MACROECONOMIC REPORT Q2/2018
VIETNAM MACROECONOMIC REPORT Q2/2018 1 Abbreviations ADB Asian Development Bank WB World Bank FS Financial statement SB State budget RE Real Estate M&A Mergers and Acquisitions Brexit Withdrawal of the
More informationThe VND/USD remained high in the final half of December. The SBV kept selling foreign reserves to stabilize forex market.
Tran Thi Thanh Thao Research Analyst T: +84 4 3726 2600 Thao.TranThiThanh@mbs.com.vn Tran Buu Quoc Institutional Client Services (ICS) Quoc.TranBuu@mbs.com.vn Key interest rates Rates Before Present Basic
More informationPHU NHUAN JEWELRY JSC (PNJ HOSE) PNJ HOSE UPDATE REPORT. April 04 th, 2017
PHU NHUAN JEWELRY JSC (PNJ HOSE) UPDATE REPORT April 04 th, 2017 Exchange PNJ HOSE INFORMATION (04.04.2017) HOSE Outstanding shares 98,273,868 Average volume of 10 days 95,395 Market price 74,100 Target
More informationTHANH CONG SECURITIES COMPANY Floor 3&5, Centec Tower, Nguyen Thi Minh Khai, Dis.3, HCMC Phone : + 84 (08) Website:
THANH CONG SECURITIES COMPANY Floor 3&5, Centec Tower, 72-74 Nguyen Thi Minh Khai, Dis.3, HCMC Phone : + 84 (08) 3 827 0527 Website: www.tcsc.vn MONTHLY REPORT OCTOBER 2012 Research Department research@tcsc.vn
More informationXYZ Textile Co. Valuation: June 2010 Business Plan
NRCI DUNIA REPORT XYZ Textile Co. Valuation: June 2010 Business Plan Dunia Frontier Consultants Norwegian Risk Consulting Intl. NRCI Dunia, LLC 2010 Norwegian Risk Consulting Intl. Dunia Frontier Consultants
More informationIntroduction to VIETNAM
Introduction to VIETNAM Vietnam is a densely populated, emerging economy that has implemented market-oriented reforms since 1986 and benefited from large foreign direct investment inflows since its accession
More informationCompany s Overview. Market data on 19 th Feb, PPC Ownership breakdown by 6 th Feb, 2013
19 th February 213 SONG DA URBAN & INDUSTRIAL ZONE INVESTMENT AND DEVELOPMENT JSC. (HOSE: SJS) Industry: Real estate Establishment date: 8 th July 23 Website: http://www.sudicosd.com.vn Listing date: 6
More informationAn Informal Economic Report of the World Bank Vietnam Consultative Group Informal Mid-Year Review
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized VIETNAM : EXPORT PERFORMANCE IN 1999 AND BEYOND An Informal Economic Report of the World
More informationIn this issue: L atest News T enant News W orkshop U pcoming Event L egal Update
In this issue: 1 LATEST NEWS VSIP Binh Duong received nearly US$600 million in FDI February 20, 2014 marked the inauguration of the Binh Duong Province Integrated Administration Centre at the Binh Duong
More informationCENTURY SYNTHETIC FIBER CORPORATION
CENTURY SYNTHETIC FIBER CORPORATION Headquarter Branch Representative office Add: B1-1 North West Cu Chi Industrial Zone, Cu Chi District, Ho Chi Minh City Tel: +84.8 3790 7565 Fax: +84.8 3790 7566 Add:
More informationINFORMATION FOR STRATEGIC INVESTORS
1. General information INFORMATION FOR STRATEGIC INVESTORS 1.1. General information of the equitized corporation Vietnamese name : CONG TY TNHH MTV - TONG CONG TY PHAT DIEN 3 English name : POWER GENERATION
More informationImpacts on Global Trade and Income of Current Trade Disputes
Public Disclosure Authorized July 2018 Number 2 Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Impacts on Global Trade and Income of Current Trade Disputes Caroline
More informationVietnam Economy: Prospects, Integration & Footwear Industry. Vo Tri Thanh (CIEM)
Vietnam Economy: Prospects, Integration & Footwear Industry Vo Tri Thanh (CIEM) Presentation at the Vietnam Footwear Summit Ho Chi Minh City, 15-16 March 2017 12/03/2017 1 Outline of presentation 30 years
More informationWORLD SITUATION. Importance of Cotton for Textile and Apparel Sector Competitiveness in TURKEY WORLD TEXTILE TRADE (BILLION US $) %2,3 %3,1 %2,8
Importance of Cotton for Textile and Apparel Sector Competitiveness in TURKEY Ziya ALTUNYALDIZ Deputy General Director of Exports 25 April, 25, ANTALYA 1 WORLD SITUATION 2 Billion $ 7 6 5 4 3 2 1 WORLD
More informationRole of PTAs for Promoting MSMEs Integration in GVCs
Role of PTAs for Promoting MSMEs Integration in GVCs Masato Abe, Ph.D. IEDS, TIID, ESCAP Regional Dialogue on ENHANCING THE CONTRIBUTION OF PREFERENTIAL TRADE AGREEMENTS TO INCLUSIVE AND EQUITABLE TRADE
More informationTHANH CONG TEXTILE GARMENT INVESTMENT TRADING JOINT STOCK COMPANY AND ITS SUBSIDIARIES
THANH CONG TEXTILE GARMENT INVESTMENT TRADING JOINT STOCK COMPANY AND ITS SUBSIDIARIES (Incorporated in the S.R of Vietnam) AUDITED CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2012
More informationTHANH CONG TEXTILE GARMENT INVESTMENT TRADING JOINT STOCK COMPANY AND ITS SUBSIDIARIES (Incorporated in the Socialist Republic of Vietnam)
THANH CONG TEXTILE GARMENT INVESTMENT TRADING JOINT STOCK COMPANY AND ITS SUBSIDIARIES (Incorporated in the Socialist Republic of Vietnam) AUDITED CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31
More informationTHANH CONG TEXTILE GARMENT INVESTMENT TRADING JOINT STOCK COMPANY AND ITS SUBSIDIARIES (Incorporated in the Socialist Republic of Vietnam)
THANH CONG TEXTILE GARMENT INVESTMENT TRADING JOINT STOCK COMPANY (Incorporated in the Socialist Republic of Vietnam) AUDITED CONSOLIDATED FINANCIAL STATEMENTS For the year ended 31 December 2015 March
More informationPress Release. Press Release SAVILLS VIETNAM REPORT ON INDUSTRIAL SECTOR NATIONWIDE 1. OVERVIEW 24/09/2015
24/09/2015 SAVILLS VIETNAM REPORT ON INDUSTRIAL SECTOR NATIONWIDE 1. OVERVIEW Co.,Ltd 18 th Floor, Continental Tower 81-85 Ham Nghi Street District 1, HCMC T: +84 8 3823 9205 savills.com.vn Large-scale
More informationPhu Nhuan Jewelry JSC
www.phs.vn HOSE - Vietnam 09.02.2018 Target price Closing price 07/02/2018 OVERWEIGHT Nguyễn Thị Thanh Hiền (+84-8) 5413-5472 hiennguyen@phs.vn Co. profile Ticker 176,000 VND 147,600 VND PNJ Charter Capital
More informationVietnam: Economic Context
Vietnam: Economic Context Parliamentary Network Visit to Vietnam March 5 8, 218 Hanoi, Vietnam Jonathan Dunn IMF Resident Representative International Monetary Fund Outline 2 IMF activities Economic achievements
More informationTHANH CONG TEXTILE GARMENT INVESTMENT TRADING JOINT STOCK COMPANY (Incorporated in the Socialist Republic of Vietnam)
(Incorporated in the Socialist Republic of Vietnam) REVIEWED SEPARATE FINANCIAL STATEMENTS For the period from 01 January 2015 to 30 June 2015 August 2015 36 Tay Thanh Street, Tay Thanh Ward, Tan Phu District
More informationMixed picture for Indonesia s garment sector
Indonesia Garment and Footwear Sector Bulletin Issue I September 2017 Mixed picture for Indonesia s garment sector By Richard Horne and Marina Cruz de Andrade Regional Office for Asia and the Pacific horne@ilo.org
More informationProject Profile: Integrated Textile Park at Tilda, Raipur (Chhattisgarh)
Project Profile: Integrated Textile Park at Tilda, Raipur (Chhattisgarh) Introduction India is the one of the world's largest producers of textiles and garments. Abundant availability of raw materials
More informationCapacity: 35,000 jacket/ month.products :Jacket, coat, sportswear, skiing suit, skirt. Production Lines :4 lines.employees: 300 employees
COMPREHENSIVE CREDIT REPORT GENERAL INFORMATION Report To Client s Ref VietnamCredit s Ref Type of report Order date Due date Date of delivery Time EXJA 2xxx CR0003418 Comprehensive 22 Sept 20YY 24 Sept
More information07/21/017 PRESS AND ANALYST MEETING Q2/2017
07/21/017 PRESS AND ANALYST MEETING Q2/2017 2 Contents Sales Report Q2/2017 Financial Results Q2/2017 Outlook for 2H2017 Q&A 1. Sales report Q2/2017 3 1. SALES REPORT Q2/2017 MARKET SHARE Accounts for
More informationEXECUTIVE SUMMARY - A STUDY ON "FORMALIZATION" OF HOUSEHOLD BUSINESS IN VIETNAM
EXECUTIVE SUMMARY - A STUDY ON "FORMALIZATION" OF HOUSEHOLD BUSINESS IN VIETNAM Central Institute for Economic Management would like to thank the Mekong Business Initiative for supporting the preparation
More informationAFC VIETNAM FUND UPDATE
Fund Category Country Focus Subscriptions Redemptions Benchmark Fund Manager Vietnam Public Equities Vietnam Monthly at NAV (five business days before month end) Monthly at NAV 30 days notice VN Index
More informationQuarterly Report : Q1 FY18. Wazir Textile Index (Textile Sector Performance Update)
Quarterly Report : Q1 FY18 Wazir Textile Index (Textile Sector Performance Update) September 2017 Contents Wazir Textile Index Q1 FY18 Quarterly Financial Performance Q1 FY18 Market Update Key Economic
More informationTHANH CONG TEXTILE GARMENT INVESTMENT TRADING JOINT STOCK COMPANY AND ITS SUBSIDIARIES (Incorporated in the Socialist Republic of Vietnam)
THANH CONG TEXTILE GARMENT INVESTMENT TRADING JOINT STOCK COMPANY (Incorporated in the Socialist Republic of Vietnam) REVIEWED CONSOLIDATED FINANCIAL STATEMENTS For the period from 01 January 2015 to 30
More informationNote: The given business registration No is not correct. The correct one is as above
COMPANY CREDIT REPORT GENERAL INFORMATION VietnamCredit s Ref CR0023260 Company Search Date 1 Aug 2016 QUICK CREDIT RATING OVERVIEW Company status Operating Total Score 51 Credit rating BB Logo SUBJECT
More informationMALAYSIA. 1. Market Trends: Import Opportunities and Consumption. Items Change in % Major Markets in %
MALAYSIA A. MARKET OF FRESH FRUITS & VEGETABLES 1. Market Trends: Import Opportunities and Consumption Items 2003 2007 Change in % Major Markets in % Value Quantity Value Quantity Value Quantity $ 000
More informationETHIOPIAN TEXTILE INDUSTRY
FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA MINISTRY OF INDUSTRY 1 ETHIOPIAN TEXTILE INDUSTRY FACTS, OPPORTUNITIES & CHALLENGES Of TEXTILE INDUSTRY DEVELOPMENT IN ETHIOPIA Ministry of Industry, Ethiopia March,
More informationINITIATION COVERAGE: BUY
RANG DONG LIGHT SOURCE & VACUUM FLASK JOINT STOCK COMPANY (RAL) June 9, 2017 INITIATION COVERAGE: BUY Current price (08/06/17) VND 125,000 Long term value Undervalued Intrinsic value: VND 150,500 Bloomberg
More informationGARMEX SAIGON JSC (GMC)
6 May 2015 GARMEX SAIGON JSC (GMC) Small Cap Research Phap Dang Senior Analyst 18 March 2011 phap.dang@vcsc.com.vn +848 3914 3588 ext. 143 Textile Target Price (P/E) NA Current Price 35,900 Upside NA Div.
More informationCentre for Trade Facilitation and Research in Textiles
Centre for Trade Facilitation and Research in Textiles Textile Economic Intelligence (WEEK ENDING 04-05-2018) NEWS HIGHLIGHTS Tariffs against China could destroy US jobs: Study US apparel import climbs,
More informationAssociate Professor, Dr Pham Thi Hong Yen Central Economic Commission Viet Nam
Welcoming the Comprehensive and Progressive Agreement for Trans- Pacific Partnership Agreement (CPTPP) Vietnam continue to promote broader international economic integration Associate Professor, Dr Pham
More informationTextile Sector Performance Update. Annual Report : Wazir Textile Index. June 2018
Annual Report : 2017-18 Textile Sector Performance Update Wazir Textile Index June 2018 2 Contents Wazir Textile Index Annual Financial Performance Quarterly Analysis Market Update Key Economic Indicators
More informationPHUOC HOA RUBBER JSC.,
8/18/29 8/18/21 8/18/211 8/18/212 8/18/213 8/18/214 8/18/215 8/18/216 8/18/217 PHUOC HOA RUBBER JSC., Unlock Land s Value Equity Update September 29, 217 We issue our BUY rating for Phuoc Hoa Rubber JSC.
More informationVIETNAM MARKET REPORT Petrovietnam Securities Incorporated. October 2016
VIETNAM MARKET REPORT 2016 Petrovietnam Securities Incorporated October 2016 1 CONTENTS VIETNAM MARKET REPORT 1. Economic Overview 2. Securities Market Overview 3. Trend Of Vietnamese Economy And Securities
More informationNavigator. Now, next and how for business. Vietnam report
Navigator Now, next and how for business Vietnam report 2 Vietnam Foreign investments remain key in servicing fast-growing external demand Surging manufacturing-related foreign direct investments have
More informationHalf Yearly Report : H1 FY18. Wazir Textile Index (Textile Sector Performance Update)
Half Yearly Report : H1 FY18 Wazir Textile Index (Textile Sector Performance Update) December 2017 Contents Wazir Textile Index H1 FY18 Half Yearly Financial Performance H1 FY18 Market Update Key Economic
More informationMACROECONOMIC RESEARCH
`` MACROECONOMIC RESEARCH 20 th, March 2017 MONTHLY REPORT FEB 2017 by A member of VIETCOMBANK In this report Highlights Macroeconomic factors Financial market Global economy Tran Minh Hoang +84 4 3936
More informationTran Thi Thanh Thao Research Analyst T: MONEY MARKET INTEREST RATES
Tran Thi Thanh Thao Research Analyst T: +84 4 3726 2600 Thao.TranThiThanh@mbs.com.vn Tran Buu Quoc Institutional Client Services (ICS) Quoc.TranBuu@mbs.com.vn Key interest rates Rates Before Present Basic
More informationExecutive Cotton Update U.S. Macroeconomic Indicators & the Cotton Supply Chain
Executive Cotton Update U.S. Macroeconomic Indicators & the Cotton Supply Chain May 2018 www.cottoninc.com Macroeconomic Overview: The International Monetary Fund (IMF) publishes comprehensive sets of
More informationDivision on Investment and Enterprise
Division on Investment and Enterprise Readers are encouraged to use the data in this publication for non-commercial purposes, provided acknowledgement is explicitly given to UNCTAD, together with the reference
More informationMARKET REPORT WEEK FROM JULY 27 TO 31, ECONOMIC OVERVIEW. World News
MARKET REPORT WEEK FROM JULY 27 TO 31, 2009 www.fpts.com.vn Tran Duy Ngoc NgocTD@fpts.com.vn Nguyen Binh Duong DuongNB2@fpts.com.vn Listed Brokerage Department FPT Securities JSC Head Office Floor 2, 71
More informationSAOVIET ICPD (VIETNAM) CO.LTD.
SAOVIET ICPD (VIETNAM) CO.LTD. Investment Consult & Project Development (Company licensed No.4102037724) Office: Ky Con Street, Nguyen Thai Binh Ward, District 1, HCMC, Viet Nam. Tel. +84 8 3 9151639 Fax.
More informationTRADE AND INVESTMENT. Introduction. Trade. A shift toward horizontal trade
Web Japan http://web-japan.org/ TRADE AND INVESTMENT A shift toward horizontal trade Automobiles ready for export (Photo courtesy of Toyota Motor Corporation) Introduction Accelerating economic globalization
More informationCompany Profile and Recent Significant Developments June 30 th, 2013
Company Profile and Recent Significant Developments June 30 th, 2013 This document is solely for the use of client personnel. No part of it may be circulated, quoted, or reproduced for distribution outside
More informationVietnam. HSBC Global Connections Report. October 2013
HSBC Global Connections Report October 2013 Vietnam The pick-up in GDP growth will be modest this year, with weak domestic demand and exports still dampening industrial confidence. A stronger recovery
More informationBUSINESS OPPORTUNITIES IN INDIA
BUSINESS OPPORTUNITIES IN INDIA India is third largest economy (US$ 4.5 trillion GDP on PPP basis) in the world which is expected to grow at the CAGR of 6-9% for coming two decades. The thriving middle
More informationThanh Thanh Cong Tay Ninh Joint Stock Company
Interim separate financial statements 31 December 2016 GENERAL INFORMATION CONTENTS Pages General information 1-2 Report of management 3 Report on review of interim separate financial information 4-5 Interim
More informationNANDAN DENIM LIMITED Q2 & H1 FY19 RESULTS UPDATE OCTOBER 2018
NANDAN DENIM LIMITED Q2 & H1 FY19 RESULTS UPDATE OCTOBER 2018 Safe Harbour Statement This presentation and the following discussion may contain forward looking statements by Nandan Denim Limited ( Nandan
More informationVietnam Rubber Group (VRG)
Vietnam Rubber Group (VRG) IPO REPORT Nga Nguyen ngantp@ssi.com.vn +84 28 3824 2897 ext. 2153 26 January 2018 MATERIALS - VIETNAM A natural rubber leader with young tree profile IPO information: VRG auction
More informationTax trends in Vietnam a 2016 update
Tax trends in Vietnam a 2016 update Hoang Phan Tax Partner March 2016 Agenda Vietnam Taxation on Foreign Investment Overview Tax audit trends Vietnam Tax Highlights of 2015 Corporate Income Tax Value Added
More informationThe TPP Agreement: An Opportunity for Maryland. Trade & Investment with TPP Countries Is Good for Maryland. Jobs Exports Investment
Overview The Trans- Pacific Partnership (TPP) agreement will strengthen trade and investment relationships between the United States and 11 other countries in the Asia- Pacific region. The TPP will help
More informationThe textiles and garments sector: Moving up the value chain
The textiles and garments sector: Moving up the value chain This policy brief is based on the paper, The Textiles and Garments Sector: Moving Up the Value Chain, by Naved Hamid (Lahore School of Economics),
More informationANNUAL REPORT. Ho Chi Minh City, 11 March 2017
ANNUAL REPORT 2016 Ho Chi Minh City, 11 March 2017 1 INTRODUCTION Company s name: Century Synthetic Fiber Corporation Trading name: Century Corp. Stock quote: STK Headquarter: B1-1 North West Cu Chi Industrial
More informationVietnam s s Economy in 2009
AmCham in Ho Chi Minh-City New World Hotel, May 14 2009 Vietnam s s Economy in 2009 Le Dang Doanh Member of the Board, Senior Research Fellow Institute of Development Studies (IDS) ledangdoanh@gmail.com
More informationCOUNTRY ECONOMIC INDICATORS (CAMBODIA)
OrbiMed Asia Partners III, LP Fund (RRP REG 51072) COUNTRY ECONOMIC INDICATORS (CAMBODIA) Item 2012 2013 2014 2015 2016 Est. 1. GDP per capita ($, current) 973 1,042 1,131 1,218 1,331 2. GDP growth (%,
More informationPresentation on Special Package for Employment Generation & Promotion of Exports & AEPC s Roadmap for Apparel Sector
Presentation on Special Package for Employment Generation & Promotion of Exports & AEPC s Roadmap for Apparel Sector Presentation by Ashok G Rajani, Chairman AEPC thanks Textile Minister, Shri Santosh
More informationIndia s International Trade & Investment
India s International Trade & Investment July 2017 1 Structure of Presentation 1 Indian Economy: A Snapshot 2 Merchandise Trade: A Perspective 3 Services Trade: Recent Trends 4 India s Investment Flows
More information