Home / Knowledge / News / Apparel/Garments / Financial subsidiary of Vinatex to raise additional capital
Financial subsidiary of Vinatex to raise additional capital
24
Mar '09
The State Bank of Vietnam has given approval to the Vietnam Textile and Garment Finance Company to raise its capital in a bid to support the textile and garment companies, in the midst of an economic crisis, an official source of Vinatex said.

The Vietnam Textile and Garment Finance Co. is a subsidiary company of Vinatex that has been established to provide financial services to textile and garment companies, like provision of loan, financial management, international transaction etc.

According to the decision of the State Bank, its charter capital will go up to VND 300 billion (equivalent to US$17.2 million) from VND 234 million (US$13.4 million).

The government has been carrying out measures to help local economy survive the onslaught of the crisis, especially for exports from the textile and garment sector and allowing the financial company to raise capital is a step towards the same.

Fibre2fashion News Desk - Vietnam

Must ReadView All

Textiles | On 9th Dec 2016

ACIMIT signs MoU with Pakistan textile bodies

In a bid to strengthen the trading in garments and textiles between...

Textiles | On 9th Dec 2016

‘Less demand may make it hard to achieve export target’

The $48 billion target for textiles and garment exports for 2016-17...

Textiles | On 9th Dec 2016

GST Council may decrease tax rates in future: CBEC

The goods and services tax (GST) Council might reduce the proposed...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search