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Thanh Cong plans textile & garment plant in Vietnam
27
Aug '14
courtesy: Thanh Cong Group
courtesy: Thanh Cong Group
Vietnam-based vertically integrated textile and garment manufacturer Thanh Cong Textile Garment Investment Trading Joint Stock Company is planning to construct a new textile and garment plant in Vinh Long province, according to a Viet Nam News report.
 
The first phase, expected to begin next month, will involve investment of US$ 8 million, and on completion, the project is likely to earn $10 million in annual revenue.
 
In the first half of 2014, Thanh Cong reported revenue of 1.306 trillion dong ($61.7 million), registering an increase of 8.85 percent year-on-year. The company earned a profit of 83.68 billion dong ($3.9 million), up 47.6 percent year-on-year.
 
Several new textile and apparel factories are coming up in Vietnam in view of the expected signing of the Trans-Pacific Partnership (TPP) agreement, which is expected to boost Vietnam’s exports to the US and other TPP-member countries.
 
Fabric and garment exports from Vietnam totaled US$ 11.498 billion in the January-July 2014, growing at 19.5 percent year-on-year, according to the preliminary data released by the Customs IT & Statistics Department, General Department of Customs, Vietnam’s Ministry of Finance.

Fibre2fashion News Desk - India

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