On the morning of August 15, during a working trip to Thai Nguyen province, Minister Nguyen Hong Dien led a delegation from the Ministry of Industry and Trade to work with TNG Investment and Trading Joint Stock Company on production and business situation.

Also attending was Mr. Le Quang Tien - Vice Chairman of Thai Nguyen Provincial People's Committee.

A delegation from the Ministry of Industry and Trade led by Minister Nguyen Hong Dien visited and inspected the production activities of TNG Thai Nguyen Company.

Reporting to Minister Nguyen Hong Dien and the working delegation, Mr. Nguyen Van Thoi - Party Secretary, Chairman of the Board of Directors of TNG Company said: TNG Company's predecessor was Bac Thai Garment Factory, established in 1979.

In 2007, the name was changed to TNG Investment and Trading Joint Stock Company. TNG shares were listed on the Hanoi Stock Exchange, with the accounting code TNG. Charter capital was 1,226 billion VND.

With the dream of making Vietnamese fashion products, instead of just simple processing, after nearly 45 years of continuous efforts to build and develop, "Made in TNG" products have been widely welcomed and highly appreciated by domestic and foreign partners and customers.

Garment production for export is TNG's core activity.

TNG Company currently owns over 322 sewing lines with 18 branches.

In the 2023 revenue structure of TNG Company, exports account for 345 million USD. Of which, the products entering the US market are the most (accounting for 46%); France accounts for 16%; Spain, Russia, Germany account for 7.7%, 6.5% and 5.0% market shares respectively; the rest are some other markets in Europe such as Canada, Netherlands.

Maintaining market share in notoriously demanding markets such as the EU and the US, especially in the context of a difficult global economy, demonstrates the company's efforts to maintain and affirm the reputation of the TNG brand as well as the company's correct steps in production and business management.

In 2023, despite facing many difficulties and challenges of "escalating" inflation and decreasing consumer purchasing power, TNG has strived to overcome challenges, gradually removing difficulties to exceed many planned targets; ensuring stable jobs for more than 18,000 workers.

Specifically, total net revenue in 2023 reached VND 7,095 billion (equal to 104.3% of the plan), a record high since TNG was established. Consolidated profit after tax in 2023 reached VND 219 billion.

In the second quarter of 2024, TNG's sales and service revenue reached over VND 2,173 billion, an increase of VND 174 billion over the same period in 2023, and after-tax profit increased by VND 32.9 billion (equivalent to an increase of 62% over the same period in 2023). In the first 6 months of this year, TNG's sales and service revenue reached nearly VND 3,527 billion (an increase of VND 193 billion over the same period).

TNG Investment and Trading Joint Stock Company is one of the pioneering enterprises, rising thanks to early digital transformation. Promoting digital transformation has helped TNG develop sustainably, creating strong growth in the new period.

Smart Warehouse Operation at TNG.

TNG Company currently owns over 322 sewing lines with 18 branches.

Along with completing the production and business plan, TNG has increased investment in technology, machinery and modern equipment for the garment industry, improving labor productivity and product quality.

According to the company representative, in the process of production activities in general and investment projects in particular, the company always receives the attention and support of the Provincial Party Committee, the People's Committee of Thai Nguyen province and local agencies. This helps the company comply with legal regulations and become one of the leading garment enterprises in Vietnam.

Minister of Industry and Trade Nguyen Hong Dien spoke at the meeting.

Listening to the business's information about its operations, Minister of Industry and Trade Nguyen Hong Dien expressed pride and impression with the scale and production and business results of the company.

The Minister praised the company for its positive contributions to the economy of Thai Nguyen province and creating jobs for workers. At the same time, he said that the company is showing a pioneering role in digital transformation, green transformation, making good use of free trade agreements, and its export products have stood firm in "difficult" markets.

"In the future, any enterprise that masters the technological chain will master the game and lead the "game", Minister Nguyen Hong Dien emphasized and suggested that in the coming time, TNG needs to continue researching and applying high technology in production and business to improve efficiency and contribute to the overall development. At the same time, it is necessary to implement policies for employees to stay long-term and implement good corporate culture.

The Minister affirmed that the Ministry of Industry and Trade, together with domestic functional units and foreign trade offices, will accompany and support TNG Company to expand its market, contributing to bringing Vietnamese brands further.

At the meeting, Minister Nguyen Hong Dien presented gifts of encouragement to the TNG Company.