Apparel sector sees startup of many projects

An array of textile and garment projects have been started up in order to enhance the country’s production capacity and reinforce Vietnam’s position in the world market.
First off, Nam Dan textile and garment complex project, invested by Hanosimex Corp, has total cost of 1.3 trillion dong. Built in Nam Giang Commune, Nam Dan Dist, Nghe An province, this is seen as the big project in the firm’s development strategy.

The project is broken into 2 phases: 850 billion dong for first stage including Nam Dan Fiber 1 plant (350 billion dong), establishment of Hoang Thi Loan Garment JSC (150 billion dong), and Nam Dan 2 fiber plant (150 billion dong). As planned, the two plants will be completed in 2013. Also, 500 billion dong for the second stage comprising Nam Dan 3 fiber plant and two textile and garment factories with a total designed capacity of 2.4 million of products a year.

A material production investment project capitalized at 350 billion dong also was lately kicked off by Phong Phu Joint Stock Corporation. It has a capacity of 40,000 stake fiber rolls.

Mr Tran Quang Nghi, Chairman of Nha Trang Garment Joint Stock Co under Phong Phu JS Corp said that his company’s project was expected to strengthen its capacity once being finished within this year. The plant will provide PE and TA fiber, high-quality thread to domestic producers and exporters.

Towards the highly competitive and high-valued products, Hoa Tho Textile and Garment JS Corp has started work on Veston Hoa Tho plant in Cam Le District, Da Nang City. The plant will produce high-class veston in the central region, capable of fetching 400,000 suits a year. 70% of total investment capital of nearly 90 billion dong will be used to buy machines, brand name equipments of Rieter, Muratec, Jingwei…The work will be operational by the year end with a targeted export turnover of over $10 million a year.

Being one of the commodity bringing high export value of Vietnam during some recent years, the sector is facing many difficulties, especially materials for production that’s why companies are rush to kick off construction on material plants with a view to reach a stable development. – Vietbiz24

Tags: Vietnam Apparel, Vietnam Apparel Exports