CADIVI export approaches US$1Mln

On October 29, 2005, Vietnam cable and wire company (CADIVI) celebrated its 30^th anniversary and received the title “Labour hero in renewal era”. In 2000-2005, the company has invested over US$7 million in new technology to improve product quality. It is also the first Vietnamese company to win an international bid to supply cable for the second 500KV power grid. In 2004, its production value was VND1,023 billion (VND307 billion in 2000), with budget revenue VND41 billion, before tax profit VND11 billion, worker’s income nearly VND3 million a month. The company recently signed their first export contract of 50 tonnes of cable to the US worth US$200,000 with a second consignment valued at US$500,000. CADIVI plans to export to Nordic countries and North America. In 2005, so far, the turnover of the company has already reached VND800 billion with nearly US$1 million in export.