Ten companies under Vinatex have made production expansion investments also to meet rising domestic demand. ..The
Dap Cau Garment Joint Stock Co invested nearly 100 billion dong ($5.13
million) in a new factory in the northern province of Bac Ninh. It was
put into operation in February and has the capacity to produce 9 million
products annually .
“em>”/em>The TNG Trade and
Investment Co in the northern province of Thai Nguyen recently invested
around 210 billion dong to construct its fourth facility. ..The new TNG Phu Binh garment factory has a design capacity for 10 million products annually and the potential for 4,000 jobs. ..The
company expects the mill to be operational by the first quarter next
year with 64 production lines which will bring the company’s total
number of lines to 172, making it one of the largest textile and garment
makers in the country. ..The chairman and director general of TNG
Co, Nguyen Van Thoi, said textile and garment orders had shifted from
China to Viet Nam. Trends have also shown orders shifting from the South
to the North of the country due to more advantages in terms of labour
forces. ..The firm made the decision to build the new factory
because its customers were well-known brands from the US and Canada such
as Columbia Sportswear, The Children’s Place and Capital. These
partners had committed to signing long-term contracts and asked TNG to
increase production, Thoi said. ..”TNG plans to intensively
bolster its investment so that it can produce various kinds of products
from raw materials to final products in order to meet higher overseas
contract requirements by 2015,” he said. ..Nha Be Garment Joint
Stock Co has 33 affiliates and subsidiaries with $240 million in annual
export turnover. Last year, despite being faced with many difficulties
caused by the global economic crisis, Nha Be still approved a plan to
inject trillions of dong in multiple projects. ..Of the total, Nha
Be invested more than 200 billion dong to expand two projects – An Nhon
Garment Joint Stock Co, which produces women’s suits and sportswear,
and Tam Quan Garment Joint Stock Co, which produces trousers, jackets,
and T-shirts. Both expanded projects are expected to launch late this
month. ..Duong Thi Ngoc Dung, chairwoman of Nha Be, said the
expansion would help her enterprise increase its export revenue by 20-25
per cent this year over last year and reach stronger export growth next
year. ..Nha Be will also begin construction of the Nha Be – Tam
Quan clean industrial zone and the Phu Cat complex on production, trade
and services later this month. ..To ensure sustainable development
of the textile and garment industry, large firms should closely
coordinate with one another to make bold investments in weaving, dyeing
and raw materials to shift from implementing sub-contracts to direct
contracts, said experts. ..In the first eight months of this year,
the sector reached a total export value of $6.9 billion, a year-on-year
increase of 17.8 per cent, making it the country’s biggest foreign
currency earner. ..In addition, producers also managed to enhance
sales in the domestic market. Le Quoc An, chairman of the Viet Nam
Textile and Apparel Association said member companies had reached a
15-18 per cent growth domestically. ”


Source:SME Times News Bureau