The Vietnam National Textile and Garment Group has planned investments into a series of plants in central Ha Tinh province to form a competent production chain serving domestic and foreign market
Hanoi (VNA) - The Vietnam National Textile and Garment Group (Vinatex) has planned inves🔯tments into a series of plants in central Ha Tinh province to form a competent production chain serving domestic and foreign markets.
At a total capital of nearly 1 trillion VND (45.14 million USD), four factories, wastewater treatment, and water supply centres will be built, covering 19 hectares of the local Nam Hong industrial park.
The construction of two sewing plants – Hong Linh 1 and 2, costing 190 billion VND (8.6 million USD), will start in February 2016 and early 2017.
In late 2017, the Hong Linh plant for scarf weaving, with designed capacity of 1,500 tonnes per year, will be built under a 314-billion-VND (14.17 million USD) investment.
Last of the fours is a factory for dying and knitting worth 410 billion VND (18.5 million USD), which is capable of turning out 1,400 tonnes of products annually.
Vinatex has launched an emulation drive to increase productivity which is vital when the country accelerates international integration.-VNA
The Vietnam National Textile and Garment Group (Vinatex) will invest most of its capital in material production projects in a move to reduce dependence on imports.
The Vietnam National Textile and Garment Group (Vinatex) will commence the construction of a factory complex in the central Quang Nam province on March 25, reports baodautu.vn.
Vietnam is now the fourth largest textile exporter in the world with 12.18 billion USD earned from these products in the first six months of this year, according to the Vietnam National Textile and Garment Group (Vinatex).
Several domestic garment and textile companies would face more challenges from large rivals following integration, said Tran Quang Nghi, Chairman of the National Garment and Textile Group (Vinatex).
The exports of garments and textiles in 2015 are expected to reach 27.5 billion USD, up 11.3 percent from the same period last year, as heard at a conference in Hanoi on November 26.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
(Illustrative Photo: VNA)
