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| Technology upgrade is advocated to improve quality of the Vietnamese textiles and apparel |
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The Vietnamese textile and apparel industry is estimated to invest VND1,100 billion (or US$58.5 million) in 2010 to increase productivity and improve technologies of the industry, according to the Vietnam National Textile and Garment Group (Vinatex).
Vinatex's president, Le Quoc An, said that the investment would help the industry reach its export turnover target of US$10.5 billion and an annual industrial production value growth of 12% for this year.
Vinatex is the biggest textile enterprise and investor in the country. It announced a plan to establish two new textile-specific industrial zones in the fiscal year of 2010.
These two industrial zones, in the provinces of Thai Binh (north) and Tra Vinh (south), will be jointly invested by both local and foreign entrepreneurs and equiped with advanced solid-waste and wastewater treatment systems.
"Each industrial zone is planned to have a 150-ha land area with initial infrastructure investment cost of US$20/m2 and an estimated production of at least 200 million square meters of fabric per year," said Vu Duc Giang, CEO of the Vinatex. Prior to this, the enterprise had invested in the construction of five industrial zones specially engineered for textile and apparel production. A range of textile manufacturing activities from knitting, dyeing to garment-sewing are present in these integrated industrial zones.
In addition, due to heavy reliance on foreign fabrics and fibers, Vietnam is aware of further development of local fabric supply. The government was outlining a master plan for cotton development, according to Vinatex.
The Vietnam Textile and Apparel Association (Vitas) reported that the country's textile and apparel industry annually needs about two billion square meters of fabrics. The local supply at 700 million m2 fabric/year meets about 35% of the demand in the country. The shortage has been met by imports from the Asian region, such as China, Korea, Japan, India, Taiwan and other southeast Asian countries. Consequently, the Vietnamese textile and apparel industry can be considerably impacted by international market prices of textiles and related raw materials.
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