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Vinatex begins building of textile project in Hai Phong
Dec '13
courtesy: Vinatex.com
courtesy: Vinatex.com
The Vietnam Textile and Garment Group (Vinatex) has started construction of a textile complex in An Lão, a rural district of Hai Phong, the third largest city in Vietnam.
The textile complex will have spinning, weaving, dyeing and sewing facilities. It will also have sewage treatment plant and housing for workers, Vinatex said on its website.
Hai Phong City People’s Committee has urged the Department of Planning and Investment, Construction, Resources and Environment, People's Committee of An Lao district to create the most favorable conditions for Vinatex during project implementation stage.
Once the project is completed and it becomes operational, the textile complex would create employment opportunities for nearly 5,000 workers from An Lão and surrounding areas with an income of about 5 million dong per person per month.
The complex would produce various high quality textile products that meet consumer demand and export turnover in the first year of its operation is likely to be about US$ 54 million, which could rise to US$ 200 million in the subsequent year.
Thus, the textile complex is expected to contribute to increased exports from the country as well as bring increased revenues to local government.
The new textile complex is one of the key projects taken up by Vinatex in order to take advantage of the Trans-Pacific Partnership (TPP) agreement which is expected to be signed next year.
Vinatex is one of the largest textile and garment corporations in Asia. The group 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.

Fibre2fashion News Desk - India

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