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ITG to build textile complex in Da Nang city

30
Mar '07
Phong Phu Corp, a Ho Chi Minh City based textile company entered into a joint venture with International Textile Group (ITG) subsidiary Burling Worldwide, to build a textile complex in central Vietnam by investing US $80 million.

The textile-dying-garment complex will be built in Hoa Khanh Industrial Park, Da Nang city.

Phong Phu has contributed 40 percent of total investment and rest will be provided by Burlington Worldwide.

By end of this year the textile complex may start its production of high quality cotton including fabric and garments and will provide employment to about 1,500 workers.

Textile industry in Vietnam has shown a strong development and has a very bright future. With WTO membership, companies like ITG involvement have started taking interest in textile sector.

Experts anticipate that country's apparel exports may grow by 25 percent this year to $7.5 billion.


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