The Vietnam National Garment and Textile Group (Vinatex) kick-started construction work on a new factory inside the Thanh Loc Industrial Zone in the southern province of Kien Giang on February 7.
The project is part of an effort by the group to reach 5 billion USD in export turnover by 2016.
Covering an area of 36,500 sq.m, the factory will be built at a cost of 150 billion VND (7.05 million USD).
Once completed, it is expected to create jobs for 2,225 labourers, generate 200 billion VND (9.4 billion USD) in turnover and contribute 2.3 billion VND (108,100 USD) to the State budget annually.
In 2013, Vinatex maintained its dominant position in the domestic textile and garment industry, as it contributed 2.9 billion USD to the sector’s export revenue, posting a 12 percent growth compared with 2012.
This year, it will focus on producing and exporting high quality textile and garment products and reducing usage of imported materials.-VNA
The project is part of an effort by the group to reach 5 billion USD in export turnover by 2016.
Covering an area of 36,500 sq.m, the factory will be built at a cost of 150 billion VND (7.05 million USD).
Once completed, it is expected to create jobs for 2,225 labourers, generate 200 billion VND (9.4 billion USD) in turnover and contribute 2.3 billion VND (108,100 USD) to the State budget annually.
In 2013, Vinatex maintained its dominant position in the domestic textile and garment industry, as it contributed 2.9 billion USD to the sector’s export revenue, posting a 12 percent growth compared with 2012.
This year, it will focus on producing and exporting high quality textile and garment products and reducing usage of imported materials.-VNA
