Vietnam's textile industry calls for foreign investment in textile raw materials projects

by:JIYALI     2021-08-07
According to a report from Vietnam’s “Vietnam News” on February 13, Nguyen Quoc An, chairman of the Vietnam Textile Group (Vinatex), said that since 70% to 80% of textile raw materials are imported, the Vietnamese textile industry welcomes foreign investment in textile raw materials and related projects.     reported that Vietnam’s chemical fiber raw materials are in short supply. The government has proposed that the domestic self-sufficiency rate of 15-20% by 2009 and 50% by 2012 will be difficult to achieve. At present, the output of domestic and foreign chemical fiber enterprises in Vietnam can only meet 4% of the market demand.     reported that the textile industry has previously announced three chemical fiber investment projects, namely the construction of three large-scale chemical fiber production enterprises in Dong Nai and Binh Duong provinces. In addition, the Vietnam Textile Group plans to plant cotton in Ninh Thuan, Binh Thuan, Dac Lac, Quang Khlong and Dong Nai provinces in order to increase the area of u200bu200bcotton fields to 4.5-5 by 2010 Million hectares.   It is also reported that the Vietnam Textile Group and the Vietnam Oil and Gas Group (Petro Vietnam) recently decided to invest US$1.25 to build a large chemical fiber enterprise in Haiphong City.
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