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Vinatex to operate as parent-subsidiary

18
Jul '06
Vietnam national Textile and Garment Group (Vinatex) has refurbished its function from corporation to group business model, and this move has been approved by the Prime Minister Nguyen Tan Dung.

The group will function as a parent-subsidy, Vinatex Group, which was totally state-owned corporation earlier.

All the decision will be taken by the state and corporation while its affiliates will be dependent.

There would be only administrative relationship between corporation and affiliates.

The purpose behind this reorganization is to attract more investment from foreign and domestic market.

Group will concentrate on strengthening trading in textile and garment by providing finance, easy credit, counselling and training, informed Le Quoc An, Chairman of the Group.


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