VIETNAM: Vinatex to rent 30% of new materials centre
Vietnam's giant textile and apparel maker Vinatex has signed a rental agreement with Lien Anh C, owner and operator of the Lien Anh centre which supplies materials and accessories for garment and footwear production.
The centre will produce a range of materials for the two industries, from cotton, fabric and yarns for garments to leather, rubber and labels for footwear
Accordingly, Vinatex will rent 30% of the centre's total space for its member companies to form the biggest centre for textiles, apparel and footwear material in the country.
In addition to Vinatex and several local companies, the Binh Duong province-based centre is expected to attract participation from foreign suppliers.
"To satisfy demand from local producers, we will have to call on suppliers from all countries in the world to bring their products here.
"However, our targetted suppliers shall be ones from China, Taiwan, Korea and Thailand who have many years experience in supplying the material to Vietnamese partners," Truong Thi Ngoc Anh, general director of Lien Anh Co said.
Lien Anh Co has already inked an agreement with the Chinese Taipei Agency for Culture and Economy and China Leather and Shoes Association.
While Vietnam is an emerging textile and apparel exporter, there is a lack of materials for local production - something that Lien Anh hopes to tackle.
"Our determination is a key factor in our decision to invest into this centre," said Truong Thuy Lien, vice chairman Lien Anh Co, "and because we understand thoroughly the difficulties which local apparel and footwear enterprises have been suffering."
The centre will cost Lien Anh Co US$12m in the first phase and US$8m in the second phase, starting operation in the first quarter 2008.
By Ngo Tuan.
Help test our new apparel sourcing tool.
The Vietnam National Textile and Garment Group (Vinatex) is to complete its privatisation during 2008, with an IPO slated for the end of the year or the beginning of 2009....
Vinatex is looking to build the first polyethylene (PE) fibre plant in Vietnam, to serve domestic textile and apparel producers....
Vietnam National Textile and Apparel Group, Vinatex, is expecting to post profits of VND521.75bn (US$32.6m) for the full-year 2007, representing an increase of 250% compared to the prior year....
- Rana Plaza four years on – Timeline of change
- Why collaboration is key to fashion supply chains
- Industry groups reaffirm commitment to Bangladesh
- Trump and Brexit get a dose of pragmatism
- Using worker surveys to drive supply chain change
- Adidas to digitalise Speedfactory concept
- Nike filed patent for "reinforced denim"
- M&S extends sourcing deal with Lindsey brothers
- Gap unveils five-year sustainable fibres pledge
- US Q1 in brief – Columbia Sportswear, Amazon
- Global market review of denim and jeanswear – forecasts to 2022
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Clothing Market in the Top 5 American Countries to 2021 - Market Size, Development, and Forecasts
- Outdoor performance apparel 2016: A broader perspective