MXP (Manufacturing Sportswear Joint Stock Company) Proposes Six Breakthrough Solutions For Vietnam’s Private Sector Development

HANOI, Vietnam — May 7, 2019 — MXP (Manufacturing Sportswear JSC.) has proposed six strategic solutions to Vietnam’s Government to strengthen Vietnam’s private enterprises, particularly in the apparel sector, in accordance with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which took effect in the beginning of this year. These proposals were made at the Vietnam Private Sector Forum 2019.

One of the leading textile and apparel manufacturing and exporting companies in Vietnam, MXP, produced more than 10 million items in 2018. MXP proposed six strategic solutions in a constitutional proposal to the Government and leaders of the Vietnam Textile and Apparel Association (VITAS), Vietnam Leather, Footwear and Handbag Association (LEFASO), and Vietnam Association of Seafood Exporters and Producers (VASEP), including:

  1. Creating a policy for Vietnamese banks to grant credit and disburse funds for businesses with sustainable production activities;
  2. Eliminating discrimination in the apparel industry and creating equal competition between Vietnamese and FDI enterprises;
  3. Designing a mechanism to cut corporate income tax to support enterprises creating lots of jobs for society;
  4. Appealing to the Government to create stipulations for companies with over 10,000 employees to provide reserve funds to provision against unemployment contingencies;
  5. Asking the Government to issue a minimum wage schedule for the coming 5 and 10 years; and
  6. Revising regulations for a maximum total overtime of 40 hours per month, instead of the current 30 hours.

The private enterprise economic forum was held on a national scale, focusing on discussing key strategic macroeconomic issues and policies regionally and globally. MXP represented the voice of the private sector to discuss and design solutions with the Economic Ministries and industry experts to promote the strong export industry of Vietnamese enterprises amidst the opportunities stem from the CPTPP.

Mr. Tran Quang Hao, MXP’s Sales Director, said: “MXP has pioneered the application of 4.0 technology to increase labor productivity and management capacity, partnering closely with suppliers of raw materials to open the way for FOB customers who are readily integrated in the global fashion industry’s value chain.”

These strategic shifts will aid businesses to adapt and capture the impending wave of the CPTPP, increasing the value of Vietnamese enterprises manufacturing for export.

Posted May 7, 2019

Source:  MXP (Manufacturing Sportswear Joint Stock Company)