Khatoco is a state-run corporation set up 23 years ago. Its asset value is now over VND1,000 billion (US$62.5 million). Khatoco consists of five independent companies and 14 affiliates. Khacoto has one garment company.
Khatoco grew out of a handicraft unit; hence, it faced labour redundancy during mechanisation and modernisation. The establishment of a garment company was a good solution providing jobs for redundant workers. Khatoco has made quick progress, with an average revenue increase of 28 per cent a year from 2000 to October 2006, and tax payments rising 32 per cent a year. Pre-tax profit was VND43 billion in 2000 but jumped to VND180 billion in 2006 (average annual increase of 32 per cent). The ROE ratio was 15 per cent. The average income of employees rose from VND1.5 million in 2000 to VND5.5 million in 2006.
Khatoco garment and textile products now hold a significant market share in Vietnam. Khatoco sees the domestic market as its mainstay, with more than one million shirts sold domestically in 2006, the remaining production for export. Khatoco runs a shop chain throughout the nation.
Apart from garment and textile, Khatoco has other mainstay business scopes like tobacco, printing, packaging and paper. Husbandry is seen the second most important field after tobacco. Khatoco has invested more than VND100 billion (US$6.25 million) into husbandry and is rearing more than 10,000 crocodiles and more than 10,000 ostriches, and set up two breeding centres. At present, Khatoco is raising crocodiles and ostriches, hoping to collect 60,000 sets of crocodile and ostrich hides a year in the next four years. Khatoco has also invested in a 40-ha swine husbandry area with more than 40,000 head in Ninh Hoa District, some 40km from Nha Trang City. Under company policy, Khatoco provides the stock and feed, and farmers raise the animals for Khatoco. The printing field will also be expanded to large scale.
In tourism, Khatoco plans to provide recreation tourism. Khatoco has invested VND25 billion to rear ostriches in Quang Nam Province, and VND20 billion to build a packaging paper factory in Nghe An Province and build a hotel.
With its significant achievements, the corporation was awarded the first, second and third class Labour Orders, the third-class Independence Order and the Heroic Working Collective Title. Chairman of Khatoco Directors Board was named Labour Hero.
Vietnamese
