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Global designers to exhibit at Luxury Br…

Designers from Europe, Middle East and North America will exhibit at the upcoming Luxury Brands Carpet Show. The second edition of the curated Luxury Brands exhibition and designer carpet collection is scheduled to...

H&M to dress Swedish teams for Olymp…

Hennes and Mauritz Group (H&M) will dress the Swedish teams for the Winter Olympics and Paralympics in PyeongChang 2018. The company will create outfits for the opening and closing ceremonies. The collection will...

Saurer to show Allma TechnoCorder TC2 at…

Saurer Technologies GmbH & Co. KG Twisting Solutions, a leading provider of energy efficient solutions for tire cord, carpet, staple, glass filament, and industrial yarns, will present its Allma TechnoCorder TC2 innovative machine...

Cone Denim and Unifi launch S Gene with …

Cone Denim and Unifi have launched the latest in advanced stretch technology - S Gene with Repreve . Combining the advanced stretch technology of S Gene with the superior sustainability and performance of...

Shima Seiki to partake in Premiere Visio…

Leading computerised knitting machine developer, Shima Seiki Mfg., Ltd., is set to participate at the Premiere Vision show, a global event for fashion professionals, to be held in Paris, from February 13 to 15, 2018...

Measurably more productive and econom- i…

Even if the winding machine is only responsible for about 10-15% of the energy consumption (compressed air and electrical energy) when considering the classic ring spinning process, these criteria play an important role...

Wool to dominate at Intertextile Shangha…

Some 3,300 exhibitors from around 20 countries covering all apparel fabrics and accessories product groups are expected at the Spring Edition of the industry’s most comprehensive sourcing platform for the spring/summer season, Intertextile...

Global Trade of Home Textiles to touch U…

Home textiles, a major segment of overall textile industry, offers a wide range of categories such as furnishing fabrics, curtains, carpets, table covers, kitchen accessories, made-ups, bedspreads, bath linen, and other home furnishings...

Vietnam’s Nam Dinh okays $68mn Chinese textile project


(Vietnam)

The People’s Committee of Vietnam’s Nam Dinh province has issued an investment license to China-based Jiangsu Julun Textiles Group Co. Ltd. for constructing a US$ 68 million factory, Vietnam Plus reported.

The new textile plant would come up over an area of 80,000 sq m in the Vu Ban district’s Bao Minh industrial park. The textile mill would have an annual capacity to produce 9,816 tons of yarn, in addition to weave 21.6 million metres and dye 24 million metres of cloth.

The investment license provides land lease contract for 46 years to the Chinese firm, which expects to complete the construction of the new textile plant by June 2016.

Besides Jiangsu Julun, another investor from Hong Kong has shown interest to set up a textile and garment industrial park in Nghia Hung district of Nam Dinh, according to the province’s managing board of industrial zones. However, the project is yet to be submitted to the Government for approval.

The Red River delta province of Nam Dinh has three industrial parks—Bao Minh, Hoa Xa and My Trung—which together employ about 25,000 people in 127 industrial units.

Vietnam is a major exporter of garments but the industry heavily depends on raw material imports. In view of the expected signing of the 12-nation Trans-Pacific Partnership (TPP) agreement later this year, several domestic and foreign firms are currently investing in the production of yarn and fabric in Vietnam, to take full advantage of the TPP.

The Vietnam National Textile and Garment Group (Vinatex) has also chalked out a strategy to meet the export demand for textiles and garments while decreasing raw material imports. In 2014, Vinatex plans to invest in 57 projects, including 2 on farm cotton, 15 yarn, 8 weaving and 24 garment projects.

In the first two months of the current year, Vietnamese garment and textile exports earned $3.2 billion, showing a year-on-year growth of 30.1 percent, according to the Ministry of Industry and Trade statistics.

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