Vietnam’s Viet Tien Garment Joint Stock Corp., has partnered with garment manufacturer Luenthai and Singapore’s Newtech Textile Co., to develop a factory that will supply fabric to the country’s garment and textile industry in a bid to lower its reliance on fabric imports.
A memorandum of understanding was signed between the three companies for the supply of synthetic fabrics which have been printed with Cooltrans coloration technologies, specialising in woven fabrics for sportswear and leisurewear for high-end international brands as well as domestic premium markets.
The Viet Thai Tech Fabric Factory aims to resolve the issue of a shortage of fabric resources in the country. The factory is expected to be operational by September.
According to local reports, the project has a total investment of US$20m. The first phase of the project is $12m and the second is $8m.
Citing Vu Duc Giang, chairman of Viet Tien Group and of Vietnam Textile and Apparel Association (VITAS), reports said the project will look to proactively source raw materials, shorten production and delivery time and meet strict quality requirements from customers in the garment industry.
The factory will be built according to US green standards and claims to be the first green standard fabric factory in Vietnam.
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