Fashion Garments Mekong Company Limited (Vietnam)

The subject is considered one of the factories of Fashion Garments – Vietnam (FGL), which is a member of the Hirdaramani Group (Sri Lanka) and LT Apparel (USA). Currently, FGL has 4 manufacturing facilities spread across the Dong Nai Province, one in Quang Nam Province and one in Dong Thap Province, and more than 10,000 employees in total. The subject's factory has secured 3rd LEED (Leadership in Energy and Environmental Design) Platinum certification, making it the 4th LEED Platinum certification for FGL's factories in total. As shared by staff, the subject specializes in processing garment products. All orders and materials are given by the FGL. Therefore, the subject has no import and export activities. Many garment and textile companies in Vietnam are facing financial difficulties due to falling orders, leading to the laying off of thousands of workers. Vietnam Textile and Apparel Association (VITAS) in Nov 2023 that Vietnam's textile and apparel exports are estimated to top USD 40 billion, about 9% less than that of last year. VITAS Chairman Vu Duc Giang said that this year, Vietnam's textile and apparel industry sees many major challenges, including the global impact of the COVID-19 pandemic and large inventory due to falling demand. “Despite the decline in exports, the export turnover is still considered a breakthrough, demonstrating the great efforts of the business community,” Giang said, adding that in 2023, Vietnamese textile and garment products entered 104 countries and territories – a record number of markets. According to VITAS, the four biggest importers of Vietnamese textiles and garments in 2023 are the USA with a turnover of over USD 11 billion, Japan with about USD 3 billion, the South Korea with USD 2.43 billion, and the EU with USD 2.9 billion.