Sunday, August 20, 2017 - 3:44:15

Vietnam welcomes US investor in silk industry

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Deputy Prime Minister Vu Van Ninh has welcomed US-based Kraig Biocraft Laboratories (KBL)’s intention to develop a new technology-used silk production project in Vietnam.

Receiving KBL’s Chairman Kim Thompson in Hanoi on January 8, Ninh said sericulture is one of Vietnam’s traditional trades, which were aimed to help people increase incomes, but it failed to meet expectations.

He expressed his hope that the KBL’s application of high technology in the sector will help it further develop.

Ninh assured that the Vietnamese government will study the project carefully and create favourable conditions for it once operational.

The deputy PM expressed his pleasure at the developments of Vietnam-US relations, noting that the US is Vietnam’s leading trade partner and the seventh largest foreign direct investor in the country.

KBL’s Chairman Kim Thompson informed his host that after making fact-finding tours in Vietnam, his group has selected the Central Highlands province of Lam Dong for its project.

He said he believes that the project will help intensify Vietnam-US cooperation as well as the two countries’ comprehensive partnership in the coming time.-VNA
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