Vinatex to pour more investment in garments and textile

VGP – The garment and textile sector will invest over VND 1,100 billion to make productivity and technology breakthroughs, so as to acquire a 12% increase in industrial production value and a 12% surge in export turnover, said an official.

January 18, 2010 5:00 PM GMT+7

Illustration photo

Mr. Lê Quốc Ân, Chairman of the Việt Nam National Textile Garment Group (Vinatex) made the remark today at a summing-up meeting of the garment and textile industry in Hà Nội.

The sector intends to connect export and import enterprises; balance foreign currency supplies; assess financial and business performance; and ensure the schedule of key investment projects.

In addition, the group plans to build and popularize the brand name of Vinatex and launch the trade promotion program in 2010.

Vinatex Deputy General Director Vũ Đức Giang revealed that the Ministry of Industry and Trade, in collaboration with Vinatex and cotton enterprises had completed a program on cotton.

It was reported that last week, the Government chief issued Decision 29/QĐ-TTg on cotton development program till 2015 and with visions towards 2020 to enrich the supplies of input materials for the garment and textile industry; gradually meet domestic consumption; and reduce trade gap.

By Kim Loan