Marubeni wants to build garment, textile factories in Vietnam

Marubeni Corp. wants to join the Vietnam National Textile & Garment Group, known as Vinatex, to build garment and textile factories in Vietnam, according to Vinatex.

Marubeni Corp. wants to join the Vietnam National Textile & Garment Group, known as Vinatex, to build garment and textile factories in Vietnam, according to Vinatex.

Marubeni is seeking opportunities to make textile and garment products in Vietnam as the Japanese trading company “started moving gradually its investment” to Vietnam from neighboring China this year, Vinatex said today in a statement on its website, quoting Katsuhisa Yabe, head of Marubeni’s textile department.

Marubeni currently makes about 90% of its garment products in China, Yabe said in the statement. No reason for the move was given. Koji Fukuhara, the head of Marubeni’s textile unit in Vietnam, declined to comment when contacted by Bloomberg News.

The Japanese company is interested in some domestic markets, including Ho Chi Minh City, the country’s biggest city, the capital of Hanoi and the central tourist province of Danang, Yabe said in the Vinatex statement.

State-owned Vinatex, the country’s biggest company in the industry, is trying to draw investments from Japan and Taiwan to develop its fabric production, Vinatex Chairman Vu Duc Giang said in the statement.- Bloomberg

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