Vinatex to build second factory in Kien Giang
The Vietnam Textile and Garment Group (Vinatex) will invest 210 billion VND (91 million USD) into building its second factory in the Mekong Delta province of Kien Giang.
Illustrative photo (Source:Internet)Construction of the 3.7 ha factory in An Bien district will start on March 14 and is expected to be completed in the first quarter of 2017.
The factory will have 32 production lines with a total capacity of 12 million products per year, bringing in annual revenue of about 850 billion VND (nearly 37 million USD).
It is expected to generate jobs for about 2,000 people and contribute about 5 billion VND (218,000 USD) to the State budget per year.
Last year, the group put into operation its first factory in Go Quao district, employing 2,000 locals.
So far, Vinatex and its affiliates have invested in 11 plants in the Mekong Delta region, creating 23,000 jobs.-VNA
You should also see
PM urges stronger cooperation between Vietnamese, Chinese Ministries of Justice
Prime Minister Pham Minh Chinh has requested the Ministries of Justice of Vietnam and China to foster cooperation and mutual support, making them to be on a par with the height of the bilateral relations.
See more
Business
InfographicADB maintains 2024 economic growth forecast for Vietnam
In its April 2024 Asian Development Outlook (ADO) report, the Asian Development Bank (ADB) has maintained its earlier forecast for Vietnam’s economic growth this year, despite ongoing uncertainties from the external environment. Vietnam’s economy is expected to achieve a growth rate of 6.0% in 2024 and 6.2% in 2025.
Business
Vietnam treasures multifaceted cooperation with Côte d'Ivoire: Deputy FM
Vietnam always attaches importance to and wishes to bolster multifaceted cooperation with Côte d'Ivoire – its traditional friendship partner in Africa, Deputy Minister of Foreign Affairs Nguyen Minh Hang has said.
Videos
Foreign investment driven towards new breakthrough phase
Vietnam has so far drawn nearly 500 billion USD in registered FDI capital after nearly four decades of opening up its economy, with investment quality improvement considered a key task for a new breakthrough phase ahead.
Business
Quang Ninh attracts additional 115 million USD from Japan investors
The Quang Ninh Economic Zone Authority (QEZA) presented investment certificates to two Japanese projects worth 115 million USD in total at a conference held at Song Khoai Industrial Park (IP) on April 19.
Business
Central bank plans to auction gold bars on April 22
The State Bank of Vietnam (SBV) will auction SJC-branded gold bars on April 22, a representative of the central bank said on April 19.
