TEXTILE AND CLOTHING INDUSTRY IN VIETNAM NEEDS to invest billions
Textile and garment industry of Vietnam for the development of the sector is in need of extensive investment, said the responsible representative of the Textile Association at a recent conference in Ho Chi Minh City.
Chairman of the Association of Vietnam#39;s textile and clothing (Vitas) Le Quoc An (Le Quoc An) said that the industry needs $ 2.7 billion, in addition, another 834 million dollars for development projects, the garment industry, and the rest on projects textiles, including cotton processing, synthetic fibers and weaving.
Domestic investors can provide only 40% of the required amount, and the rest will come from other sources, he added. At a conference on investment in the textile industry HCMC ten foreign and domestic financial institutions said they are willing to provide funds for the development of the industry.
The conference was organized by the Vietnam Textile and Garment Corporation (Vinatex) and the American company Coker, who is the supplier of the equipment. Inf. fibre2fashion
