ID :
152207
Sat, 12/04/2010 - 08:08
Auther :
Shortlink :
http://m.oananews.org//node/152207
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The textile and garment industry to continue to experience an increase in foreign investment next year
Hanoi (VNA) -- The textile and garment industry would continue to experience an
increase in foreign investment next year, but investors would focus on garment
factories instead of material production projects, said Vietnam Textile and Apparel
Association (Vitas).
Vitas vice chairman Le Van Dao said Taiwan, Hong Kong and the Republic of Korea
would remain the biggest investors in Vietnam's garment and textiles industry.
He said several Taiwanese investors had plans to enlarge their investment in
Vietnam. For example, Eclat Textile Co, which have a factory in southern Dong Nai
province's Nhon Trach Industrial Zone, plans to buy a 2.5 million USD factory
capable of producing about 3-3.5 million units of garments and knitwear a year.
Eclat also plans to invest roughly 4 million USD to set up a new garment factory
that will have the capacity to produce 2.5 million units each year.
Another Taiwanese investor, Makalot Garment Co, which currently has a factory in
northern Hai Duong province, also plans to invest more than 6 million USD to
increase its production in Vietnam in a move to cut input costs, which are rising
in China.
A enterprise from the DPR of Korea has also expressed interest in investing in
mulberry cultivation, raising silkworms and fibre production. The enterprise said
it would invest in equipment and technology while Vietnamese partners would provide
facilities and human resources.
Vitas said that while the rising foreign investment into the clothing industry is a
good sign, it also means that Vietnam is not receiving any backing for development
of weaving and dyeing factories.
Vietnam currently has to import up to 80 percent of the material needed by the
garment sector annually. Domestic companies can only supply 30 to 50 percent of the
country's demand for cotton, fibre and other materials required to make shirts,
jeans and other basic clothing.
Manufacturers have also faced difficulties as prices for imported materials have
leapt by 30 to 40 percent this year.
To meet some of the demand for textiles, the Vietnam Garment and Textile Group
(Vinatex) and the Vietnam Oil and Gas Group (PetroVietnam) have built the Dinh Vu
fibre production factory in northern Hai Phong City. Vinatex has also built four
weaving and dyeing industrial zones in an attempt to attract domestic and foreign
investors.
The Ministry of Industry and Trade also plans to develop a material and a dyeing
zone in southern Dong Nai province by 2015.-Enditem
increase in foreign investment next year, but investors would focus on garment
factories instead of material production projects, said Vietnam Textile and Apparel
Association (Vitas).
Vitas vice chairman Le Van Dao said Taiwan, Hong Kong and the Republic of Korea
would remain the biggest investors in Vietnam's garment and textiles industry.
He said several Taiwanese investors had plans to enlarge their investment in
Vietnam. For example, Eclat Textile Co, which have a factory in southern Dong Nai
province's Nhon Trach Industrial Zone, plans to buy a 2.5 million USD factory
capable of producing about 3-3.5 million units of garments and knitwear a year.
Eclat also plans to invest roughly 4 million USD to set up a new garment factory
that will have the capacity to produce 2.5 million units each year.
Another Taiwanese investor, Makalot Garment Co, which currently has a factory in
northern Hai Duong province, also plans to invest more than 6 million USD to
increase its production in Vietnam in a move to cut input costs, which are rising
in China.
A enterprise from the DPR of Korea has also expressed interest in investing in
mulberry cultivation, raising silkworms and fibre production. The enterprise said
it would invest in equipment and technology while Vietnamese partners would provide
facilities and human resources.
Vitas said that while the rising foreign investment into the clothing industry is a
good sign, it also means that Vietnam is not receiving any backing for development
of weaving and dyeing factories.
Vietnam currently has to import up to 80 percent of the material needed by the
garment sector annually. Domestic companies can only supply 30 to 50 percent of the
country's demand for cotton, fibre and other materials required to make shirts,
jeans and other basic clothing.
Manufacturers have also faced difficulties as prices for imported materials have
leapt by 30 to 40 percent this year.
To meet some of the demand for textiles, the Vietnam Garment and Textile Group
(Vinatex) and the Vietnam Oil and Gas Group (PetroVietnam) have built the Dinh Vu
fibre production factory in northern Hai Phong City. Vinatex has also built four
weaving and dyeing industrial zones in an attempt to attract domestic and foreign
investors.
The Ministry of Industry and Trade also plans to develop a material and a dyeing
zone in southern Dong Nai province by 2015.-Enditem
