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Vietnam welcomes US investor in silk industry

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

Receiving KBL’sChairman Kim Thompson in Hanoi on January 8, Ninh said sericulture isone of Vietnam’s traditional trades, which were aimed to help peopleincrease 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 projectcarefully and create favourable conditions for it once operational.

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

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

Hesaid he believes that the project will help intensify Vietnam-UScooperation as well as the two countries’ comprehensive partnership inthe coming time.-VNA
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