Vietnam receives $200m fresh garment investment

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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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Reading Time: 1 minute

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

Reading Time: 1 minute

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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