Vietnam Vinatex Aims to Raise Localization Rate to 50% in 2011

The Vietnam Garment and Textile Group (Vinatex) targets to raise its localization rate to 50% in 2011 from 44% last year.

The group has recently spent VND15.3 billion ($801,886) on producing cotton, synthetic fiber and other accessories in a bid to fulfill the target.

Vinatex has also cooperated with Cambodia and Myanmar’s partners in cotton cultivation to guarantee the material sources.

Deputy Vinatex director Le Trung Hai said the group aims to export $1.95 billion worth of products this year, up 15% on-year.

The Vietnamese President granted a Gold Star Order for the Vinatex on its 15th anniversary of establishment in May.

Tags: Vinatex

Posted by VBN on Jul 2 2010. Filed under Garment Textile. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry