On March 20, 2023, Dong Khanh Textile Joint Stock Company, owned by Mr. Trinh Tan Hoang who is also the CEO, located at Tan Do Industrial Zone, Duc Hoa, Long An Province – one of the major spinning & textile producers in the South, and an active member of the Vietnam Cotton and Spinning Association (VCOSA) – was removed from the LOUA 2 of the International Cotton Association (ICA), which is a list of companies proven to have links to one listed on LOUA 1. LOUA 1 is a public list that identifies companies that have failed to comply with one or more arbitral awards under the ICA’s Bylaws and Rules.
Dong Khanh Textile Joint Stock Company has a capacity of more than 100,000 spindles and 5,000 OE rotors, and can supply 22,000 tons of yarn per year from cotton to blended yarn (CVC, TC) for both domestic and international markets. From December 2022 to March 2023, Dong Khanh cooperated with VCOSA to provide complete information and legal documents to prove the company’s eligibility to be removed from LOUA 2. The ICA actively supported the investigation process and worked closely with all parties to achieve the goal and shorten the processing time. This demonstrates the strategic vision and deep commitment of Dong Khanh’s Board of Director to enhancing the company’s reputation and competitive capacity. Being removed from ICA’s LOUA 2 not only marks an important milestone in the company’s history but also demonstrates Dong Khanh’s continuous efforts to enhance its reputation and expand and build relationships in both domestic and international markets. It can be said that this is a step forward for the Vietnamese spinning industry, affirming the fairness and transparency of the ICA.
Indeed, in recent years, the ICA has made significant contributions to helping the Vietnamese spinning industry enhance its competitive capacity and recognition. The relationship between VCOSA and ICA is increasingly strengthened through activities aimed at protecting the rights and interests of members of both organizations. The ICA actively listens and improves its Bylaws and Rules to optimize safety, fairness, and transparency in global cotton trade transactions, while VCOSA regularly seeks opinions and contributions from its members to organize programs that support Vietnamese spinning businesses to enhance their competitive capacity and protect their rights and interests when engaging in cotton trade transactions.
Congratulations to Dong Khanh on being removed from ICA’s LOUA 2, and hopefully this will inspire and motivate other partners in the Vietnamese spinning industry to continue to develop and improve the reputation of the company.
