Home / Knowledge / News / Textiles / Vinatex increases search for strategic partner
Vinatex increases search for strategic partner
Jul '13
The Vietnam National Textile and Garment Group (Vinatex), one of the leading garment and textile exporters in the world, has increased its search for a strategic partner.
Several investors from foreign countries have expressed their keenness to become a strategic partner with Vinatex, but the company is yet to choose a satisfactory partner, Vinatex deputy general director Le Tien Truong has said.
Mr. Truong was speaking at a conference to review January-June 2013 results and targets for 2013, Viet Nam News reported.
He informed that the company has completed the necessary procedures for launching an initial public offering (IPO) in the fourth quarter of 2013, and was waiting an approval from the Government.
Besides catering to the domestic market, Vinatex exports its garments and textiles to the US, the EU, Japan, South Korea and China.
Vinatex has set an export target of US$ 19.5 billion for 2013, which would be an increase of 13.4 percent over last year’s export figures.
Meanwhile, Vinatex has started carrying out a feasibility study report to grow cotton in the central province of Quang Tri, in response to the growing demand for cotton in the country’s garment and textile manufacturing sector.
Vietnam depends to a great extent on raw material imports for its textile industry, and hence in recent months, experts have suggested that the country should strive at becoming self-sufficient in raw material production. 
Vietnam’s garment and textile exports are likely to get a boost once the Trans-Pacific Partnership (TPP) agreement, for which negotiations are currently going on, is concluded.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Pexels

Fashion | On 23rd Jun 2018

Nigerian bank launches N1 bn fund for fashion entrepreneur

Nigeria’s Bank of Industry has set aside 1 billion Naira (N) to...

Courtesy: Tayal

Textiles | On 23rd Jun 2018

Tayal textile factory in Algeria starts exports to Turkey

Algeria’s largest textile factory, the joint Algerian-Turkish company ...

Courtesy: Manhattan Beachwear

Fashion | On 23rd Jun 2018

Manhattan Beachwear in global partnership with BCBG Group

Manhattan Beachwear, the largest swimwear manufacturer in the US, has ...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Luke Otten
Wigwam Mills Inc

Wigwam aims to recycle discarded yarn that doesn’t make it through the...

Rahul Bhadani

Navigating through catalogues is a bit hasslesome

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kevin Nelson

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

June 2018

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

news category

Related Categories:

Advanced Search