Domestic garment firms with ambitious projects

Phong Phu Home Textile JSC invested more than US$45 million into key projects last year which helped it complete the supply chain and be more competitive at major markets, said the company general director Pham Xuan Trinh.

The key projects include a textile factory in NhaTrang with a capacity of 3,780 tons of fabric annually, a denim fabric factory in NhaTrang with a capacity of 35.7 million of products a year and a production line producing 4.8 million towels a year in HCM City, Trinh said.

These projects will help the company meet its target of US$1 billion revenue in the next four years, Trinh added.

Meanwhile Viet Tien Garment JSC under the National Garment and Textile Group (Vinatex) is gearing for completion of its garment production chain. Currently, the company’s factories are producing textile and fabrics to supply other garment businesses.

Le Tien Truong, Vinatex General Director, said Viet Tien had expended more than US$22.7 million on key projects in the 2015-2016 period.

Meanwhile, Nha Be Garment JSC with an export revenue of US$550 million last year, is nurturing a driving ambition. It is completing the construction of Nha Be Garment Factory in Hau Giang province with an investment of US$13.6 million on an area of 6ha. After the factory is put into operation late this year, it expects to employ around 6,000 workers and supply suits, trousers, women’s fashion and other products with an annual export revenue of US$120 million.

These projects will help the garment sector fulfil its export target of US$31 billion this year.