Two of Viet Nam's biggest listed garment companies have reported positive results in the first nine months of this year, foreshadowing perhaps a bright future for the country's textile industry under the potential Trans Pacific Partnership (TPP) trade agreement.

On October 12, TNG Investment and Trading Co (TNG) reported year-on-year increases of 24% in both revenue and net profit in the third quarter which were 627 billion VND (28 million USD) and 25 billion VND (1.1 million USD), respectively.

Producing garments, textile for exports (Photo: VNA)

Through the first nine months of the year, TNG posted a combined revenue of 1.42 trillion VND (63.4 million USD), up 38% over the same period of last year, while its net profit reached almost 59 billion VND (2.6 million USD), up 47% year-on-year.

Thanh Cong Trade Textile Garment Investment Co (TCM) is investing in a weaving and dying garment factory with a total investment of 30 million USD during the 2014-17 period. Meanwhile, TNG has put into operation another cotton production line, worth more than 40 billion VND (1.8 million USD) to raise capacity 300%.

The company's 9-month net sales rose 12% to 2.16 trillion VND (96.4 million USD), equivalent to 78% of the company's target for the whole year.

(Source: VNA)