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MOI approves disinvestment of three textile & apparel cos

17 Jan '07
1 min read

Ministry of Industry gave approval for disinvestment of Viet Tien Apparel Corporation, Phong Phu Textile Corporation and Hanoi Textile and Garment Corporation (Hanosimex) for the reform of these old companies.

All these corporations are now under control of Vietnam Textile and Apparel Groups (Vinatex), which gave approval to these companies to equitize.

Vinatex plans to equitize these corporations by 2007 to raise capital of US $31.25 million.

Fibre2fashion.com News Desk-Vietnam

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