The event was attended by President Truong Tan Sang and Deputy Prime Minister Vu Van Ninh. At the ceremony, the President presented the Labour Hero title to the leader of the Group.
Addressing the ceremony, Deputy PM Vu Van Ninh emphasised that over the past 20 years, Vinatex has successfully completed their assigned tasks, including guiding, supporting and promoting the Vietnamese textiles and garment industry to overcome all difficulties and develop its position.
Since 2006, when Vietnam became a member of the World Trade Organisation, the Group has had outstanding growth, with its exports turn over increasing three times compared to the previous period.
In addition, its industrial production value, revenue, profit and localisation ratio have constantly increased. The Group has created jobs with stable incomes for thousands of local residents around the country.
According to the Deputy PM, Vinatex has pointed out logical steps in investing in advanced technologies to increase labour productivity, and has proactively prepared for integration, particularly as free trade agreements between Vietnam and international major markets take effect.
He said that Vinatex is a State-owned enterprise leading in restructuring and equitising with strong development, fully meeting standards of the markets.
Deputy PM Ninh also asked Vinatex to continue to fulfill its role as a nucleus of the Vietnamese textiles and garment sector as well as striving to double its exports turn over to over US$6 billion and create jobs for more than 300,000 people in the coming years when Vietnam integrates deeper into the global economy.
The Group should accelerate innovation of equipment and application of science and technology as well as improve labour productivity, form a skilled and well-trained workforce and strive to become one of five leading countries in the filed of textile and garment in the world, said the Deputy PM.
He also urged Vinatex to quickly form supply chains in the Group and associated enterprises, further increase the localisation ratio, and determine appropriate steps in developing production of input materials.
