Business

AWI considers setting up wool factory in Vietnam

Australian Wool Innovation (AWI) has stated that it is in discussions with three Vietnamese companies and six foreign firms about the possibility of establishing a wool weaving factory in the Southeast Asian country.
Australian Wool Innovation (AWI) has stated that it is in discussionswith three Vietnamese companies and six foreign firms about thepossibility of establishing a wool weaving factory in the SoutheastAsian country.

Vietnamese producers are nowimporting wool yarn from China , India , Italy and Germany .Experts predict that domestic processing will help save import costs andtime.

AWI is making efforts to intensifyconnections with Vietnamese businesses to help them access its naturalwool products as well as Australia ’s wool and yarn processingtechnologies.

It considers this move as asolution to reduce Australia ’s dependence on the Chinese market as 75percent of its wool is now exported to China.-VNA
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