VIETNAM: Taiwanese firm to build $150m textile plant
Taiwan's Tai Yuen Textile is to begin construction on a high-tech $150m plant in Dong Van II industrial zone, in the north Vietnamese province of Ha Nam.
This is the group's first plant in Vietnam, and is due to begin operation in August 2015. It will initially employ around 500 workers.
Tai Yuen Textile is a subsidiary of Yulon Group, and is a vertically integrated textile manufacturer making dyed and finished woven and knitted fabrics for end-uses including active wear.
As reported on just-style yesterday (8 May), Vietnam is seeing a surge of investment from textile firms hopeful about the eventual signing of the Trans-Pacific Partnership (TPP) trade deal.
In early March, China's Jiangsu Yulun Textile Group was licensed to build a fabric and dyeing facility with a total registered capital of US$68m in Bao Minh industrial zone, Nam Dinh province.
Two other China-based companies are planning to make clothing and textile industry investments in Nam Dinh province: Hong Kong-listed Luen Thai Holdings and Foshan City-based Sanshui Jialida Textile Company.
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