The efficiency of the business is not measured by profit. In order to ensure a more objective, comprehensive and more comprehensive assessment of the contribution of enterprises to the economy, a more integrated view is needed through both social contributions. With this perspective, strategic planners can make accurate decisions at the macro level, motivating the country to develop towards sustainability both economically and socially.

 

Facing the conflict between technology and employment

First of all it must be said that Vietnam is an agricultural country in the process of modern industrialization, so it is urgent to deal with redundant labor from the agricultural sector. In addition, because of the latter, we have just gained the advantage of science and technology, and at the same time, these advantages put pressure on the target of generating jobs for the majority of farmers. low skills, industrial work habits have not been formed, and especially have not contributed to the social security system to ensure insurance benefits when the labor age. Therefore, in the course of its development, Vietnam must address two issues at the same time: to apply science and technology to achieve high labor productivity equivalent to other countries in the region and in the world. in the same industry; At the same time, work well to create income for many workers with low level. In-depth research into the textile industry is also intended to address these two tasks of the economy.

In the year 2016, the total export value of the textile and garment industry will reach USD 28 billion, 4 times higher than that of crude oil (USD 6,962 billion) and 5.4 times higher than that of rice export. This data shows that the textile and garment industry plays a very important role in the socio-economic development of our country. To achieve the total turnover of more than US $ 28 billion is the result of the textile and garment industry in Vietnam, including state enterprises, FDI enterprises and enterprises of other economic sectors. Based on the data analysis of Vinatex, in the context of the impact of the world economy as well as domestic policies, we assess the overall performance of enterprises in particular as well as the textile industry. in general.

At present, the main market of Vietnamese textiles and garments are developed countries with high scientific and technological level, labor productivity reaches the maximum level of human capability such as USA, EU and Japan. And some emerging countries such as Korea, ASEAN, China (these are the markets where the export turnover of Vietnam textile over $ 1 billion). This partly reflects the success of the textile and apparel industry as it penetrates hard markets, but the competitive pressures are great to maintain and expand market share.

For Vinatex, it is a state-owned enterprise with an export turnover of $ 3.2 billion in 2017, accounting for over 13% of the sector. By 2017, unit prices of clothing, casual shirts and shirts decreased by 5%, but labor costs in the year increased due to the government's decision to raise basic wages; prices of health services and education increase; Meanwhile, the VND exchange rate against other currencies is stable ... creating an undue burden on the accounting of exporters. For Vinatex, the cost of domestic increases is about VND 400 billion higher than that of 2016. To overcome the rising costs, Vinatex set out measures to improve labor productivity by investing in automation lines at some stages and specializing the workers' skills, but also only This will create an offset for the additional costs of about VND 250 billion. As a result, the Group still has a profit decline of 140-150 billion dong compared to 2016. With the total number of employees including employees in affiliated companies, affiliates up to 126,000, this is dilemma If speeding up the automation process pushes a portion of workers into unemployment, or maintains a high price as in 2016, it will lose market share in countries like Vietnam. Bangladesh, Myanmar, Cambodia ...

In 2017, Vinatex pays VND 1,000 billion and VND 1,300 billion profit. However, the payroll for employees is always about 20 times more profitable. Because, the average monthly salary of employees at the Group has reached VND 7.2 million, plus 13 months salary, Tet bonus, all kinds of expenses, etc. The textile and apparel industry ranges from VND110 - 120 million / year. With 126,000 employees, the Group spends about VND15,000 billion on salaries. From that, total contributions to social expenditures (budget remittance, profit and salary funds) amounted to nearly VND 17,500 billion on equity of VND 5,000 billion. Taking into account the amount of equity, the Group is bringing in VND3.5 per capita, but Vinatex has equitized and the State only accounts for 53.49% or VND2,674 billion.

In the whole economy of a country, each sector has its own, unique and indispensable contributions. There is a great revenue generating sector, large budget contribution, and large capital investment. There is a sector that generates modest revenue, but creates many jobs, contributing meaning to social security. Looking at Vinatex, we see that the leadership and effectiveness of state capital investment in enterprises is worth considering: with more than VND2,000 billion, VND2,674 billion has been mobilized from social capital, creating a close contributing to the economy 17,500 billion, and create jobs for 126,000 workers. A comparison with other sectors in Vietnam below will clarify this meaning:

Turn restrictions into advantages

According to the data of the above table, it can be seen that the five key economic groups of the country, divided into groups of corporations using resources from the natural resources of the country such as oil and gas and coal - has the highest profit margin, with 1 dong of investment capital generating 0.75 and 0.77 VND of capital. A group of service-trading corporations such as Aviation Corporation has the highest profit when one owner's equity generates 2.33 VND of income. Meanwhile, the Vietnam Electricity Group, by the mode of production, is based on the principle of selling prices of products regulated by the State on the basis of harmony with other economic sectors, ie intervention by the State. price of the product, so 7 new equity capital created a profit 1. Vietnam Textile and Garment Group is the production unit and also the business unit, so the formation of income is average. In terms of social contribution, the salary of Vietnam Airlines, the Coal and Mineral Group and the Textile and Garment Group were 24 trillion dong, 13.2 trillion dong and 15 trillion dong respectively. Thus, in addition to net profit to the budget, there is also a large indirect contribution to ensure the aggregate demand of the economy to develop and contribute to ensuring social security.

In the overall picture of the economy, if we use the concepts of total owner capital, the number of jobs created in the industrialization process, it can be seen that the development of industries that use more TB Together with the development of hi-tech industries, requiring large capital investment are two indispensable aspects of macro-economic policy making.

Conflict in solving labor and employment is a peculiar point, which is also a matter of objectivity and limitation of the industrialized economy such as Vietnam. Without reducing the number of employees, increasing productivity to reduce costs, competitiveness in the international market will increasingly decline and gradually lead to business closure due to loss of market share. But, if the number of workers is reduced dramatically, it will push thousands of people into unemployment, affecting the welfare of their children. With efficiency as mentioned above, it can be said that the textile and garment industry is solving quite harmoniously this problem.

As just analyzed, Vinatex's total profit is only about 5% of the total salary, in other words, the salary fund is always 20 times more profitable. If investing in a factory with 10,000 workers, the total investment in workshops and equipment with automation technology of over 50% is about $ 50 million and about $ 20 million to ensure the plant operates to the point capital. Thus, from the first year of operation, the factory contributed a real income of VND1,300 billion, including salaries and benefits, not to mention the costs generated during the production process. electricity costs, water costs, transport costs ...

Therefore, if the efficiency of capital extraction is equal to the return on equity when assessing the investment efficiency of a project in the textile and apparel industry, it will not be sufficient to ignore the significance of creating Work and stabilize the lives of 10,000 workers (the life of 10,000 households, for a total of about 110 million to 120 million VND per year, - 2 others in the family). This is a very high income compared to purely agricultural areas.

It can be seen that, in terms of profit, textile and garment industry is not a profitable business, but because of that, Vinatex has created stable employment for 126,000 employees with equity capital. 5,000 billion VND. If the focus is on profit, technology line investment, with the amount of equity will create jobs for only 300-400 people, and then Vietnam will have 125,000 households in a different situation than with the present.

From the above mentioned issues, the assessment of the contribution of enterprises to the economy should be based on: investment capital, investment efficiency, number of laborers and real contribution to the economy.

Compared with 2016, the world economic situation in 2017 evolves in a more positive direction. The tensions between the United States and North Korea, the Brexist negotiations between the UK and the EU, are still at risk. Specifically, the global textile and apparel industry in 2017 reached $ 674.3 billion, down 0.85% over the same period; The total value of US textile imports in 2017 decreased by 0.2%, the EU decreased by 0.3%. In the case of the customs union markets, due to the difficulty of payment (payment via a third country without direct payment) and the implementation of the CPTPP, it has not been possible to expand into the markets. Potential as Australia - estimated to be able to achieve export turnover of over $ 1 billion.

Considering the strong aspects of textile and apparel sector 4.0, it is necessary to take into account the market and scientific and technological factors. With the current level of scientific and technological development, many manufacturers in the world can manufacture automation lines of products with no complicated technical requirements such as T-shirts in large quantities, thanks to The cost of outsourcing is low, but the market does not accept the millions of similar products, regardless of geography, climate and customer preferences. So in the next few years, the application of science and technology to artificial intelligence in the textile sector will initially be applied in some areas such as yarn, weaving, and some sewing. In the first stage of the garment processing sector, the rest had to use large numbers of workers to complete and meet the requirements of small orders to suit the tastes and geographical characteristics of each market. . Thus, it can be optimistic that in the textile and apparel industry, despite the application of science and technology, it is indispensable for the skilled worker to make a difference in the product. Increase the competitive advantage of the manufacturer. This particular feature of the textile and apparel industry will help Vietnam maintain its labor force advantage relatively abundant. In order to achieve the export turnover of USD 50 - 60 billion in 2021, with the level of science and technology in textile and garment industry, it is expected that 5 million workers will be employed. This is a very big issue that needs to be studied and seriously considered in the country's industrial development policy.

According to the Vietnam Workers' Union (General Confederation of Labor), the basic salary of garment workers is about VND 4.3 million per month, the cost of wages for a worker is 100% salary; 26.5% for the year, social insurance, health insurance, unemployment insurance; 20-30% for non-overtime allowances such as attendance, petrol, children, etc .; 10-15% for holidays, maternity illness. Thus, the total cost of the enterprise will be about 160 - 180% of salary. From that can see the salary fund of the industry is about 206,400 billion per year. This is a great contribution to the economy, ensuring the increase of aggregate demand and contributing to the development of the domestic market, ensuring a sustainable economic growth based on a harmonious combination of the domestic market and the market. export field.

Thus, the assessment of the contribution of enterprises to the economy and the policy development of an industry from now until Vietnam completed the industrialization - modernize the country claim Asking for a new, comprehensive view both economically and socially. The assessment of the effectiveness of state capital in equitized enterprises in the textile and garment sector in particular and in the economy in general should be implemented in this direction so as to ensure the orientation of the Party Platform 2011 It is proposed to continue to develop the state economy to play a leading role, together with the private economy as a driving force for national economic development.

Deputy Chairman of the Economic Committee of the National Assembly Nguyen Duc Kien

Nguồn: Vinatex.com