Saigon Wool Company Expands Export Markets
Due to the recent imposition of quotas on the textile and garment industry of some export markets, all textile and garment making enterprises in Vietnam face many difficulties. However, the Saigon Wool Company has suffered little impact because of quotas as the company has concentrated on non-quota markets.
Set up after reunification, the Saigon Wool Company faced many difficulties in its early days due to a small production scale and outdated equipment. In that context, the company's directorial board made a great effort to develop strategies suitable with each period of Vietnam's economic development. Now, the company has three systems of plants in Nam Dinh and Ho Chi Minh City with more than 3,000 weaving machines, 16 GG, 12GG, 10GG, 7GG, 6.5GG, 5GG and 3.5GG, Jacquard, Intarsia and washing and ironing machines. Thanks to its great efforts, the company has gained important achievements. In March 1999, the company was granted with the ISO 9002:1994 certificate and in November 2001, it received the ISO 9001:2000 certificate. In the last three years, the company’s revenues have seen a high year-on-year increase. The company earned VND33 billion in revenues and about VND1.5 billion in 2002. Its revenues then reached VND62.5 billion in 2003.
The company's products have become favourite goods for Vietnamese and foreign consumers with various samples. As a result, the company has created stable jobs and incomes for about 2,000 workers and cadres.
So far, the company's products have been exported to many countries, namely the US, the EU, Canada, Mexico, Russia, the Czech Republic and Taiwan. Export turnover of the first half of this year reached about US$4 million. This year's figure is expected to be put at US$8.5 million. The company is expected to enter new markets, such as Brazil, South Africa and Argentina. During the integration process, apart from improving the quality of its products, reducing production costs, the company has always attached importance to promoting and building the Saigon Wool trademark. Vu Thanh Thuy, general director of the company, said that the building of a prestigious trademark was a vital task for each enterprise. However, the company is facing some certain difficulties such as low productivity, production costs and fierce competition from products made in China and India.
With its great efforts, over the past few years, the Saigon Wool Company has won many awards, including the Golden Globe. In particular in 2004, the company was one of 18 outstanding enterprises in Vietnam's textile and garment industry.
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