Substantially all of the massive influx of investment in the nation is flowing into the garment and textile and real estate sectors, causing quite a stir in the arena of public opinion.
Recently the Nam Dinh Provincial People’s Committee of approved the issuance of an investment license to Chinese garment and textile giant Jiangsu Julun Textiles Group Co.. Ltd to construct a US$68 million manufacturing facility on an 80,000 sq. m area of the Bao Minh Industrial Park.
When fully operational, the factory specialising in the production of yarn, will have a total annual production capacity of 9.816 tonnes per annum, suitable for the production of textiles, sewing, crocheting, knitting and weaving.
Investors will provide the much needed funds to fuel Vietnam’s production of raw materials, components and supplies in the garment sector, generating jobs and taxes to the State.
