Vinatex opens new garment factory in Nghe An
September 07, 2016 - Vietnam
The Vietnam Textile
and Garment Group (Vinatex) has inaugurated a new garment factory in the central province of Nghe An. The Vinatex Hoang Mai factory spans across 32,000 sq m and has been built at a cost of 127 billion dong ($5.7 million). In the first phase, the factory will produce 11 million tonnes of products, mainly for export to Japan.
The new factory will create employment opportunities for about 900 persons, according to Vietnamese media reports.
Vinatex has set a target to increase its export turnover by 10 per cent this year to $2.6 billion. To achieve this, the group is supporting its subsidiaries in trade
promotion to export markets.
In 2015, Vinatex’s exports stood at $2.37 billion, while the group’s pre-tax profit was 628 billion dong. (RKS)