Vietnam Textile And Garment Group Wants To Promote Local Fiber Share

　　 Vietnam textile and Garment Group (Vinatex) plans to invest $2 billion 100 million over the next 10 years to build manufacturing. Polyester yarn And other raw material facilities to improve the content of local ingredients in their products. Vietnam textile and Garment Group is the largest clothing company in Vietnam. Employing about 2000000 people, it will set up factories in 8 central highland provinces and northern mountainous provinces, increasing output value and increasing exports. This includes 31 fiber factories, 21 fabric factories and 164 garment units. By 2020, Vietnam textile and Garment Group hopes to produce the required products. Raw material 65%.

Deputy general manager of Vietnam textile and Garment Group Li Jin Chang It is said that next year, after the DinhVu polyester plant in Haiphong city has achieved all-round production, the current US $450 million import of polyester will stop. By 2020, Vietnam's textile and Garment Group's goal is to produce 300 thousand tons a year. fibre 675 million square meters of fabric and 706 million garments, with an export volume of more than 5 billion dollars.

In order to expand the plan, Vietnam textile and apparel group needs 1.3-1.5 trillion dong dong ($6200-7100) / year's funds to improve human resources and other aspects, Li said. Such a huge investment can ensure annual output growth of 12-14% and export volume increase by 15%.