Vietnamese entrepreneurs play a pivotal role as strategic partners of the State and the people, driving the realization of the nation’s aspiration for prosperity and strength. Recently, at the 2025 New Economy Forum and the 22nd Strong Brand Awards, the Vietnam National Textile and Garment Group (Vinatex) was honored as one of the Top 10 “Rising Strong Brands” of 2025. Mr. Lê Tiến Trường, Chairman of Vinatex, was also recognized among the Top 10 Outstanding Vietnamese Entrepreneurs for his contributions to the nation’s journey of Doi moi – Integration – Elevation.
The ten outstanding Vietnamese entrepreneurs honored in this year’s “Doi moi – Integration – Elevation” journey are pioneers who have shaped the nation’s market economy, carrying a profound patriotic spirit in every stage of their business growth. This recognition not only celebrates their significant contributions but also affirms the vital role of entrepreneurs as a central force in driving Vietnam’s future development.
With 27 years of experience in the textile and garment industry, including the past 12 years in the highest executive position at the Group, Vinatex Chairman Le Tien Truong has continuously sought to explore, research, and experiment with innovative operational models for a state-owned enterprise after equitization, operating in a globally competitive environment that demands constant adaptation to maintain and enhance competitiveness.
Dr. Le Tien Truong has been a pioneer in promoting numerous innovations in corporate governance and management. Notably, he introduced the Balanced Scorecard (BSC) system to measure and monitor strategic implementation, aligning objectives from the Group level down to each company member. This marked a breakthrough in management thinking, helping Vinatex move beyond the phase of “labor-intensive, low value-added” operations toward a modern, transparent, and efficient management system. He also organized training programs for over 1.500 managers at various levels, personally lecturing on topics such as management mindset transformation, financial management, and human resource management based on digital data; thereby building a leadership team capable of adapting to new business contexts. During the turbulent market period from the COVID-19 pandemic to the present, he implemented flexible management strategies: accepting lower profits to maintain jobs for approximately 60.000 direct and nearly 100.000 indirect employees, ensuring social welfare and workforce stability till the market recovered.
Besides, he has introduced numerous innovations in technology and product development. He led negotiations to bring the flame-retardant fabric project — a collaboration with COATS Group (United Kingdom) to Vietnam, marking the first time the Vietnamese textile industry gained mastery over high-end, proprietary technology in protective apparel. This milestone has helped Vinatex move beyond dependence on basic garment products, with projected annual revenues of USD 80–100 million by 2030. He also implemented new production technologies and a fully integrated process from fiber–yarn–weaving–dyeing–finishing–garment, ensuring that the internal value-added ratio reaches 80% (compared to 50% for conventional products). Furthermore, he has strategically repositioned Vinatex’s brand from a contract manufacturer to a strategic partner of leading international brands and fashion labels.
Contributing to the strategy of sustainable development and social responsibility, Dr. Le Tien Truong served as the chief editor of two landmark publications: “The History of Vietnam’s Textile and Garment Industry (1898–2025)” and “The Shift Toward a Circular Economy and Its Impacts on Vietnam’s Textile and Garment Industry.” These are the first books in Vietnam to comprehensively document the industry’s historical development and explore the application of the circular economy in Vietnam Textiles field. Together, they lay both the theoretical and practical foundation for the sector’s transition from a linear production model to a circular one.
He has also served as chief editor for numerous professional books on management and engineering (Vietnam’s Textile and Garment Industry in the Fourth Industrial Revolution, The Balanced Scorecard System – BSC and Key Management Indicators for Vietnamese Garment Enterprises, The Shift Toward a Circular Economy and Its Impacts on Vietnam’s Textile and Garment Sector, Developing the Textile and Garment Industry in the Era of International Integration: Experiences and Solutions, and Air Systems and Compressed Air in Spinning Mills). In addition, he has published multiple research articles in scientific journals such as Communist Review and Economic Forecast Review, providing valuable theoretical and practical foundations for enhancing the competitiveness of Vietnam’s textile and garment industry.
To enhance Vinatex’s competitiveness, Chairman Le Tien Truong initiated the establishment of the Product Development and Business Center (PD&B), which officially began operations on July 1st, 2024. The center focuses on comprehensive research and development of new products, aligning with Vinatex’s strategic goal of becoming a one-stop destination capable of providing end-to-end green fashion solutions for corporate clients—on a scale that positions it among the leaders in Vietnam and the region. The strategic direction is clearly defined with a multi-segment approach: maintaining production of mainstream apparel (ensure employment stability), while simultaneously investing in high-value niche products (flame-retardant fabrics, filament-core yarns, and multi-component fibers).
“Entrepreneur Le Tien Truong has made significant contributions to Vietnam’s Textile and Garment industry. In his role as Chairman of Vinatex, from strategic vision to value chain management, market development, and production organization, he has introduced groundbreaking initiatives that have driven strong growth and enabled Vinatex and firms in the industry to proactively adapt to emerging global trends,” noted the Organizing Committee of the 2025 Economic Forum.
In 2025, under the theme “Elevation Enterprises” the Vietnam Strong Brand Program focused on honoring businesses that have achieved outstanding performance in manufacturing, trade, and services, while advancing green investment and sustainable development. The program also recognized companies that have made significant contributions to their communities and local economies, supporting Vietnam’s high-growth goals for this year and the years ahead. All enterprises honored in the Vietnam Strong Brand 2025 program represent exemplary models across diverse sectors, contributing prominently to the country’s economic growth amid global integration and its rise in a new era. Vinatex was proudly named among the Top 10 Strong Brands in 2025.
Over the past 5 years, despite facing numerous challenges — including the Covid-19 pandemic, trade wars, inflation, geopolitical instability, a sharp decline in global textile demand, and intense competition within the industry, Vinatex has demonstrated strong political will, effective leadership, creativity, and flexibility in its business operations. Across the entire system, Vinatex has met and exceeded many key performance targets. The Group achieved an average annual growth rate of 6%, an average profit increase of 31% per year, an average export turnover growth of 2% per year, and an average income growth of over 6% annually…
Vinatex’s development focus in the coming period is: to continue expanding production capacity and market share for high-tech textile products, targeting annual revenue of 80–100 million USD from flame-resistant fabrics by 2030. Vinatex will accelerate digital transformation, green transition, and circular economy initiatives, positioning itself as a modern, pioneering enterprise in sustainable textile and garment production that meets international sustainability and ESG standards.
Vinatex also aims to build an integrated ecosystem of training – research – production to cultivate and develop a high-quality workforce, while investing in and transferring proprietary technologies, and strengthening partnerships with major players in global supply chains. The Group remains steadfast in its strategic vision of becoming “a one-stop destination for comprehensive green textile and fashion solutions.”
Over the past 40 years of Doi moi, Vietnam has achieved remarkable milestones: the economy now ranks 34th globally in size, with GDP exceeding USD 470 billion in 2024 and total import–export turnover reaching USD 786 billion, placing the country among the top 20 economies worldwide in trade and foreign investment attraction.
These achievements owe much to the dedication and vision of Vietnamese enterprises and entrepreneurs, with Vinatex and Chairman Le Tien Truong are exemplary representative.
