CMC SOFT co-operates with Vietnam textile industry: The wave of the fourth industrial revolution (4.0 technology) is becoming more and more visible in all aspects of life. The textile industry is also not out of the trend. With the characteristics of a labor-intensive industry along with fierce competition from many of China's rivals, Pakistan, India, ... the application of the achievements of the 4th industrial revolution really became the challenge for Vietnamese textile and garment enterprises today. However, 4.0 technology can also become a chance if each company is actively focus on adapt and change. In order for the textile and garment enterprises in VietNam transform the challenge of the 4.0 revolution into a development opportunity and not to fall behind as the technology is moving forward is becoming a difficult problem. So with experience and prestige in the field of information technology, CMC Soft is proud to be a reliable partner for textile and garment enterprises in today's 4.0 technology era. CMC Soft understands the challenges that the textile industry is facing in the whirlwind of technology 4.0 and therefore we have made every effort to create products and solutions to equip textile enterprises with efficient management software, meeting basic business requirements, contributing to cost and time saving and increase the efficiency of enterprises. With the trend of applying cloud computing technology - solution providing computer resources to users according to the purpose of using the Internet connection, in the management and operation of enterprises, CMC Soft brings the application of technology of this era with aims to turn them into effective assistants for each enterprise on the way of doing business. Accordingly, the problem of human resources with textile enterprises will no longer be challenged with the support from personnel management software CeHR. Difficulties in managing company with a large scale and highly complex personnel will also be solved by the SAP Business One ERP solution. In addition, the works of financial, accounting and financial invoice management will be digitized with professional software such as CeAC accounting software, C-Invoice invoicing software.
United States to stop antidumping investigation on polyester yarn from Vietnam: The Commerce and Industry Ministry has announced that the US Department of Commerce (DOC) has officially announced the termination of anti-dumping investigations against polyester fibers imported from Vietnam by the plaintiff withdraw the lawsuit. Plaintiff has requested to withdraw the claim against Vietnam but did not state the reasons. For other countries / regions, the case will continue to investigate. It is known that plaintiffs are DAK Americas Group, Nan Ya Plastics Group, Augira Polymers Company have filed a lawsuit against synthetic fibers which are not cardedand combed in process of spinning or oder and are made of polyester with less than 3.3 decitex filament yarn (referred to as polyester filament yarn) code HS: 5503.20.0025. Earlier on 20 June 1977, DOC officially launched the case with Vietnam, China, India, Korea, Taiwan (China). In addition to being subjected to anti-dumping investigations, China and India are also subject to investigative subsidies. According to the Ministry of Industry and Trade, Vietnam exports about 13,000 tonnes of investigated products to the US market (valued at $ 12.4 million) in 2016, ranking third after China ($ 79.4 million) and India ($ 14.7 million)
No TPP, VietNam textiles still attract more than 750 million USD from FDI. With no sudden increase happened within this year and many of newly licensed projects diminished but VietNam textiles still hover over 750 million USD investment capital despite adjustment. In addition to the Billion Vietnam Polyester and Polyester Mill Factory project with the total investment capital of $ 220 million from Chinese enterprises in Tay Ninh province was supplemented mainly by enterprises raising capital. The two largest capital increase projects in the textile and garment sector operating in Dong Nai and Binh Duong are the Polytex Far Eastern (Taiwan) Polytex Ltd has increased $ 485.8 and the biggest capital adjustment project is Taiwan Tainan Spinning Group has adjusted the capital increase for Project Crown Fibers Co., Ltd. in Long Khanh Industrial Park with registered capital increased by $ 50 million. Mr Le Tien Truong - Vice President of VITAS said that despite the context of the US withdrawal from the TPP Agreement, there are some textile and apparel projects from FDI still pour big capital investment into Vietnamwhich made positive signal. “Foreign investors operating in Vietnam in the textile and garment sector have decided to increase their capital to show a bright picture which indicate that the investment environment in Vietnam is still attracted”. As one of the major textile exporters in Asia over the past decade, the total value of Vietnam's apparel exports has increased by 3.6 times from $ 7.78 billion in 2007 to $ 28.1 billion in 2016 accounting for 16% of Vietnam's total exports. By 2017, the entire textile industry is expected a 7% growth target from $30 to $ 31billion. In recent years with thanks to competitive labor costs and preferential policies, Vietnam has become an ideal destination for textile investors. FDI inflows into textile and garment rushes over the past decade have contributed to making Vietnam the top five textile and apparel exporters in the world. According to Vitas, Vietnam's textile and garment sector will still have other FTAs such as: Vietnam-EU FTA, Vietnam-Korea FTA, Vietnam-Japan FTA , FTA Vietnam - Eurasia Economic Coalition... which can guarantee a good growth rate despite the TPP failed. The EU is a market where Vietnam's garment and textile sector accounts for only 3% of the market share and if there is good utilization, VietNam will have opportunities for growth during 2018-2020. And this will attract FDI enterprises continue to pour capital into new projects in Vietnam.
KOVINET (Korea) invests 1.5 trillion VNĐ in Hoang Mai 2 Industrial Park: KOVINET Corporation is committed to invest in the infrastructure of Hoang Mai 2 Industrial Zone in Nghe An Province with the total investment capital of VND 1,500 billion. When administrative procedures were completed, KOVINET set a five-year construction roadmap which will start by 1 January 2018 and and attracted some 350 small and medium-sized exporters from Korea in the global export network to the region. In addition, KOVINET is committed to working with Vietnamese companies to foster strategic industries in the fields of renewable energy, LED technology, wind power, electronic components, information technology, two wheelers, food production. After completion of the project, the value of this industrial zone will be about 16,000 billion VND. Nghe An province is committed to working closely with Korean companies to provide a stable workforce to carry out production and business projects in Nghe An; support Korean language training for experts, engineers, workers in the area working at projects of Korean investors in Nghe An... And continue to implement administrative reforms, apply preferential policies for investment, provide the most favorable conditions for businesses in the local.
Restructuring early the textile industry to overcome the 'congestion': To develop sustainable and have a place in the world textile supply chain, Vietnam should soon have solutions to restructuring the industry. In particular, the industry needs to develop a balance between weaving, dyeing, finishing fabric and tailoring products to suit the actual needs. At the same time, there must be solutions to improve the quality of human resources, especially textile and dyeing technicians as well as product designers. Many experts in the feild believe that restructuring the textile and garment industry in the direction of connecting the balance between the production of raw materials and materials and processing the products is an indispensable requirement for the Vietnamese textile and garment industry to create national value. However, the greatest difficulty in textile, dyeing, fabric production is the lack of financial resources. In order to meet the demand for fabrics and auxiliary materials for businesses processing products by 2025, Vietnam needs about $ 22 billion invested in textile and dyeing. Meanwhile, the majority of domestic textile and garment enterprises are small and medium enterprises only focus on tailor made orders and therfore they can not accumulate much capital to invest. In particular, the preferential tariff policy of the FTAs is always associated with the requirements for origin rules of goods is helping Vietnam become a "golden place" to attract investment in the production of raw materials to meet the principle of domestic proportion and the origin of goods when exported. However, many opinions suggest that in the long run, Vietnam's textile and garment industry can not only aim at attracting foreign investors which will make the textile and garment industry become a game of foreign enterprises having factories in Viet Nam. Therefore, the government and the associations must have solutions to support small and medium enterprises to developed. In particular, priority for businesses to invest in fiber production, yarn, weaving, dyeing ... which are the stages that the textile and garment industry in Vietnam is lacking and weak. In addition, it is necessary to develop centralized planning for textile and dyeing factories as well as specialized research centers for specific development orientations in line with actual needs. Besides the issue of mobilizing capital, the training of high quality power supply to meet the development needs of the textile and garment industry in the coming years is also a problem that strategic planners and enterprises must quickly find the solution. Accordingly, enterprises want to create their own brand to build a team of designers, professional technicians and they must be able to continuously improve and provide customers with new products with different requires. At the same time, enterprises must ensure the quality of products in accordance with customer commitments by organizing specialized quality control team throughout the production process.
Viet Thang Corporation - VICOTEX has put 21 million shares on HOSE: Ho Chi Minh City Stock Exchange (HOSE) has approved the listing of 21 million common shares of VICOTEX with the code of TVT. The reference price in the first trading session on July 17 was VND35,000 per share. With a range of +/- 20%, Vicotex's current charter capital is VND 210 billion of which VINATEX owns 46.93%. Although asset size and charter capital are limited but Vicotex has shown positive business results and has been maintained for many consecutive years to Compare with the four companies in the same industry listed on the HOSE, net revenue and net profit (excluding extraordinary profits from the transfer of real estate projects) of the Corporation. Core earnings per share and return on equity etc. are all in the lead. In the year 2016, Vicotex recorded net sales of VND2,491 billion mainly from the sale of textiles, clothing and garments which is up over 6% from the previous year. The Corporation has set a relatively short-term growth target. Expected revenue this year only increased 2.6% to 2.557 billion. Net profit after tax decreased more than 19% to VND95 billion. Viet Thang Corporation was originated from the American textile company VIMYTEX of which was established in 1960. After the unification of the country, the company was taken over by the government and assigned to the Ministry of Light Industry. Manage and maintain production and business activities. During the operation, the company was re-structured in many different forms and names such as Viet Thang Textile Factory, Viet Thang Textile MTV Co Ltd etc. In 2007, the company was equitized by the government who holds 52.3 chartered capital and transformed into a corporation shortly thereafter.
The Minister of Industry and Trade issued Decision No. 2339 / QĐ-BCT dated 26 June 2017 deciding to set up a inspection delegation for the development of Vietnam's textile and garment industry up to 2020 with a vision to 2030 by adapting the master plan for the development of Vietnam's textile and garment industry up to 2025 with a vision to 2035. The survey team is composed of representatives from Departments of the Ministry of Industry and Trade such as the Department of Light Industry, Industrial Policy Research Institute, VITAS and VICOSA. The delegation has the task of working with the People's Committees of provinces, cities, factories, enteprises in the field of textile and garment across the country to complete the project "Adjustment of planning development of the textile and garment industry in Vietnam to 2025, vision to 2035 ". Time to complete the project is by the fourth quarter of 2017.
On 27 July 2017, the GDC issued Official Letter 5003 / TCHQ-GSQL to give guidance for the implementation of Decision No. 15/2017 / QD-TTg on the list of imported goods subject about customs procedures at the border gate. Accordingly, any goods to be raw materials for supplies or machinery and equipment imported for processing and producing goods for export customs procedures will be carried out at any customs offices (CBO) near by their factories, enterprise. In addition, imported goods for implementation of tax-exempt investment projects will carry out procedures at the CBO where the list of duty-free goods is registered or CBO at the border gate where the goods storage place is located, the port of destination stated on the bill of lading, transport contract; The CBO manages the investment from the Customs Department where the imported goods are located. This is the third time the General Department of Customs issued an official letter for guiding to Decree 15/2017 / QD-TTg.
The scheme "Restructuring the system of credit institutions for dealing with bad debts in the period 2016-2020" issued together with Decision No. 1058 / QĐ-TTg dated 19 July 2017 of the Prime Minister: One solution mentioned in the proposal is to perfect the legal framework on monetary and banking operations. The State Bank of Vietnam will have to perform some important tasks such as advising the Government to submit to the National Assembly for promulgation the Law amending and supplementing some articles of the Law on Credit Institutions; To study and submit to the Government amendments and supplements to the Decree on foreign investors' purchase of shares of Vietnamese CIs; To submit to the National Assembly and the Government amendments to the Land Law, the Law on Civil Judgment Execution, the Property Auction Law and other laws to create a synchronous legal framework for the restructuring of credit institutions and treat bad debt success.
From 15/8/2017, Circular 18/2017 / TT-BLDTBXH guides the adjustment of pensions, social insurance and social insurance benefits as stipulated in Clauses 1, 2, 3 and 8 of Article 1. Decree 76/2017 / ND-CP came into effect. Accordingly, the level of pensions, social insurance benefits, monthly allowance from July 2014 equal pension, social security, subsidy June 2017 x 1.0744
Decree No. 71/2017 / ND-CP guiding corporate governance applicable to public companies will be effective from 01/18/2017 and Circular 121/2012 / TT- 7/2012. According to the Decree, since 2020, the Chairman of the Board shall be banned from holding the position of General Director, and from 01/8/2019, a member of the Board of a public company shall not be concurrently a member of the Board of Directors at more than 05 other companies. In addition, the Decree also adds some remarkable content such as the requirement to disclose income information of the director and other managers into separate items in the company's annual financial statements and must Report to the General Assembly of Shareholders at the annual meeting. The General Assembly of Shareholders is empowered to adopt the internal regulations on corporate governance developed by the Board of Directors.
Sourced by VITAS
