VIETNAM: Top Chinese textile manufacturer invests $68m
Leading Chinese textile manufacturer Jiangsu Yulun Textile group has been granted an investment license to set up a facility in Nam Dinh province in the north of Vietnam.
According to the province's industrial zones management board, Jiangsu Yulun plans to invest $68m (VND1,400bn) in a facility at Bao Minh industrial zone.
The complex will produce around 9,816 tons of yarn and 21.6m metres of fabric each year, and will have a 24m metre/year dyeing plant. It is set to begin operation in June 2016.
The investments are being spurred by duty-free opportunities that would eventually be offered from the proposed Trans-Pacific Partnership (TPP) trade treaty with countries including Canada and the US.
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