Vietnam receives $200m fresh garment investment

Garment vietnamHong Kong-based TAL Group will invest $200 million for the production of garments and textiles in Vietnam, Voice of Vietnam reported.

The group aims to construct a second garment unit in Vietnam, following a $40 million investment made in 2004 to set up a subsidiary, TAV Limited, in Phuc Khanh Industrial Zone, Thai Binh province.  The fabrics and apparel at the new unit would be produced “using latest technologies that do not cause pollution,” and the firm said it would ensure that environmental standards are maintained.

For the new garment project, TAL would also work with representatives of the Ministry of Industry and Trade and the Vietnam Garment and Textile Group (Vinatex).

TAL is among several companies that are investing in Vietnam’s garment industry in view of the benefits that the country would get as it nears the signing of the Trans-Pacific Partnership Agreement (TPP) and a free trade agreement with the EU. China’s Texhong Corporation and Sunrise Textile Co., Japan’s Toray International and Mitsui Corporation, and Austria’s Lenzing, have entered into joint venture agreements with Vinatex and other companies.



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Hong Kong-based TAL Group will invest $200 million for the production of garments and textiles in Vietnam, Voice of Vietnam reported. The group aims to construct a second garment unit in Vietnam, following a $40 million investment made in 2004 to set up a subsidiary, TAV Limited, in Phuc Khanh Industrial Zone, Thai Binh province.  The fabrics and apparel at the new unit would be produced "using latest technologies that do not cause pollution," and the firm said it would ensure that environmental standards are maintained. For the new garment project, TAL would also work with representatives of the Ministry...

Garment vietnamHong Kong-based TAL Group will invest $200 million for the production of garments and textiles in Vietnam, Voice of Vietnam reported.

The group aims to construct a second garment unit in Vietnam, following a $40 million investment made in 2004 to set up a subsidiary, TAV Limited, in Phuc Khanh Industrial Zone, Thai Binh province.  The fabrics and apparel at the new unit would be produced “using latest technologies that do not cause pollution,” and the firm said it would ensure that environmental standards are maintained.

For the new garment project, TAL would also work with representatives of the Ministry of Industry and Trade and the Vietnam Garment and Textile Group (Vinatex).

TAL is among several companies that are investing in Vietnam’s garment industry in view of the benefits that the country would get as it nears the signing of the Trans-Pacific Partnership Agreement (TPP) and a free trade agreement with the EU. China’s Texhong Corporation and Sunrise Textile Co., Japan’s Toray International and Mitsui Corporation, and Austria’s Lenzing, have entered into joint venture agreements with Vinatex and other companies.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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