The Vietnam National Textile and Garment Group (Vinatex), one of the largest Vietnamese companies, has shown interest in setting up its textile and garment factory in Moscow, Denis Butsayev, Moscow region’s Minister of Investments and Innovations, said after a meeting with Vinatex representatives, reports Interfax news agency.
According to the Minister, Vinatex would like to set up its textile and apparel factory in the suburbs of Moscow.
Vinatex includes more than 120 joint stock companies, and is involved in production and trade of clothing items.
Vinatex includes nearly 120 subsidiary companies that produce textiles and garments and run commercial services. These companies also have their own distribution systems including wholesale and retail dealers.
In 2013, Vinatex’s exports were nearly US$ 3 billion, up 12 percent year-on-year, while its earnings from the domestic market were 22.5 trillion VND (approx. US$ 1.05 billion), showing a rise of 15 percent year-on-year.
By next year, Vinatex is expected to enter the list top ten textiles and garment companies in the world.