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

Textiles | On 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Md Siddiqur Rahman, president, BGMEA, addressing a press conference with other dignitaries. Courtesy: BGMEA

Apparel/Garments | On 29th May 2017

BGMEA asks govt for 5% incentive for 2 years in Budget

The Bangladesh Garment Manufacturers and Exporters Association...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Interviews View All

Hannah Lane

Encouragement from brands will motivate supply chains to become more...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Mark Paterson
Technical Absorbents Ltd

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Karan Arora
Karan Arora

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

Robert Brunner

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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


news category

Related Categories:
May 2017

May 2017

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


Browse Our Archives


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search