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Vinatex urges for abolition of tax on fibre

31
May '08
Vietnam Textile and Apparel Group, Vinatex, has filed a petition in Ministry of Finance to apply the imports tax of synthetic fiber at 0 from 3 percent.

According to Planning and Investment Department of Vinatex, increasing oil prices in world market will automatically hike the rate of synthetic fibre. This in turn will pose problems for the local textile and apparel industry.

As Vietnam has been relying heavily on imports of synthetic fibre, more than 90 percent of its total demand is fulfilled by overseas countries.

Fibre2fashion News Desk - Vietnam


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