The project, inscribed in celebration of the 25th anniversary of Ninh Binh province, is the Spinning Factory of Lam Giang Investment and Trade Joint Stock Company, established to catalyze the development of the rapidly growing textile and garment industry in Ninh Binh. The company has overcome numerous difficulties to become an outstanding firm with great contributions to local socioeconomic development.
Efforts to overcome difficulties, boost business performance
Lam Giang Spinning Factory, put into operation in early 2017, is located on nearly 5 ha in Ninh Phong Industrial Complex (Ninh Binh City). Costing VND900 billion of investment capital and employing nearly 500 workers, the facility is capable of manufacturing 12,000 tons of spindled yarn a year. The company imports cotton from Africa and turns out spindled yarn, produced with cutting-edge textile and garment technology. 90% of the output is exported to China.
Mr. Nguyen Thanh Tan, Director of Lam Giang Investment and Trade Joint Stock Company, said, in 2020 and in early 2021, the COVID-19 epidemic resulted in a decreased demand for in garment and disrupted cotton - fabric - yarn supply chains. Therefore, customers’ import demand for the company’s yarns slumped dramatically.
To overcome difficulties and restore production, the company rationally reshuffled its operating apparatus and production lines while looking for new input supply sources, seeking output export markets and improving product quality. As a result, the company's operations started recovering in the third quarter of 2020 and have stabilized and profited since the fourth quarter of 2020. The firm signed big orders on shipments to China and Europe. Currently, the concern is carrying out expansion procedures while building a yarn factory and a towel factory for export to Europe.
The above results have motivated the company's employees to work harder to achieve the output target of 11,300 tons of yarn and the revenue of VND845 billion in 2021. Employees are paid an average of VND8 million a month.
In addition, Director Nguyen Thanh Tan affirmed that the company planned to gradually replace imported inputs, actively source input supplies to reduce product costs and enhance product competitiveness. Lam Giang will be a "bridge" for textile and garment investors in Vietnam in general and particularly in Ninh Binh where strengths are abundant to develop this industry.
Business coupled with occupational safety and social responsibility
Typically having a lot of flammable and explosive materials and equipment, Lam Giang always upholds the slogan “Be safe for production, production must be safe”. The company pays special attention to occupational safety, including providing regular health checks for employees, raising awareness of employees, providing full personal protective equipment, measuring the working environment, and rehearsing routine chemical spill responses.
Furthermore, Lam Giang Investment and Trade Joint Stock Company assigns top priority to waste treatment measures in manufacturing, environmental protection and fire and explosion prevention. Since its inception, the company has made an environmental impact assessment (EIA) report and submitted it to competent authorities for appraisal in accordance with current regulations. At the same time, it fully complies with regulations on environmental protection.
Social security is also addressed by the Board of Directors. The company regularly donates to the Gratitude Fund, the Fund for the Poor, scholarships for poor students with exceptional educational records and new rural development. These meaningful activities are also carried out in neighboring areas, including school construction in Song Ma district, Son La province.
Director Nguyen Thanh Tan affirmed that Lam Giang always upholds the spirit and responsibility of each staff member to the entire company, the responsibility of the employer to the employees, as well as the responsibility of the company to customers and community. These are the core factors for the company to spread the beauty of its culture and deeply impress its partners and customers.
Source: Vietnam Business Forum