On 8/1, Than Duc Viet, General Director of May 10 Company, announced the company's financial results during a ceremony to receive the First-class Labor Order. These results exceeded the initial targets set earlier this year, which aimed for 5,055 billion VND in revenue and 135 billion VND in pre-tax profit. Last year, May 10's export-import turnover reached 328 million USD, with the company expecting to hit the 1 billion USD mark by 2030. The average monthly income for its 12,000 employees currently stands at over 11 million VND, with last year's average Tet (Lunar New Year) bonus equivalent to 1.4 months' salary.

Prime Minister Pham Minh Chinh visited May 10's veston production workshop on the afternoon of 8/1. *Photo: Manh Quan*

May 10 originated in 1946 as a rudimentary military uniform workshop in the Viet Bac resistance base. During his visit to the enterprise, Prime Minister Pham Minh Chinh emphasized that the company's 80-year journey exemplifies the spirit of self-reliance among Vietnamese businesses. The Prime Minister commended May 10 for achieving over 5,100 billion VND in revenue amidst difficulties, particularly highlighting its model of vocational schools, kindergartens, and on-site healthcare facilities as a social welfare model that needs to be widely adopted.

The broader textile and garment industry in Vietnam comprises over 7,000 businesses and employs 3 million workers, contributing 10% to Vietnam's GDP by 2025. The entire industry achieved record exports of 46 billion USD despite global volatility, supply chain disruptions, and continuously changing fashion trends. The Prime Minister urged the textile and garment industry, including May 10, to focus on digital transformation, greening production, and using clean energy in this new context. This strategic shift aims to elevate Vietnam's position in the global value chain, moving beyond contract manufacturing to a role that shapes global fashion trends. Furthermore, textile enterprises must effectively exploit the domestic market of over 100 million people and dedicate resources to employee welfare. "Company leaders reported last year's employee bonuses reached 1.4 months' salary, and this year they strive for two months' salary, with next year needing to be even better than the previous one," the Prime Minister stated.

Hong Chieu