Home Economy

$24m to be invested in JV weaving, knitting plant

Nov 8th at 12:43
08-11-2012 12:43:30+07:00

$24m to be invested in JV weaving, knitting plant

A joint venture agreement signing ceremony to establish Thien Nam Sunrise Textiles JSC was inked on Monday by Chinese Sunrise Shengzhou textile company and Vietnamese Thien Nam Investment and Development JSC in HCM City.

The project will cost a total of US$24 million to build a factory in Bao Minh Industrial Park in northern Nam Dinh Province with a production capacity of 1 million metres of woven fabrics and 300 tonnes of knitting fabrics a month.

Thien Nam is a leading spinning enterprise in Viet Nam, owning four spinning factories with a total of nearly 150,000 spindles and yarn production capacity of 25,000 tonnes per year.

Over 70 per cent of products are exported to overseas markets such as Turkey, Brazil, Indonesia, South Korea, and China.

vietnamnews

MOST READ

NEWS SAME CATEGORY

Ministry seeks ways to stem FDI decline
ECONOMY Nov 7th at 12:56

Ministry seeks ways to stem FDI decline

The Ministry of Planning and Investment is seeking effective measures to prevent the decline of direct foreign investment (FDI) in the country, according to a...

Ministry bolsters price control effort as Tet nears
ECONOMY Nov 7th at 12:52

Ministry bolsters price control effort as Tet nears

Minister of Finance Vuong Dinh Hue recently issued Directive 04/CT-BTC to intensify price management and stabilisation as the year comes to a close and Lunar New...

European firms lose confidence
ECONOMY Nov 6th at 12:59

European firms lose confidence

Business confidence and outlook among European businesses in Viet Nam continue to drop, the 9th EuroCham Business Climate Index survey released last Friday shows.

Overseas investment takes a dive
ECONOMY Nov 6th at 12:53

Overseas investment takes a dive

Overseas investment has fallen by 30 per cent compared to the first ten months of last year, despite new investment licences having been granted for nearly 70...

Japanese giant open for business
ECONOMY Nov 6th at 12:49

Japanese giant open for business

Japanese-funded Tiger Viet Nam Co Ltd opened the doors of its new US$12 million home electric appliance plant in Viet Nam's southern province of Dong Nai last...

Vietnam hurries to put a brake on FDI decrease
ECONOMY Nov 2nd at 12:59

Vietnam hurries to put a brake on FDI decrease

The Ministry of Planning and Investment (MPI) has been straining every nerve to find out the solutions to stop the decrease of the foreign direct investment (FDI)...

Co-operation with Hungary given timely boost by review
ECONOMY Nov 1st at 12:40

Co-operation with Hungary given timely boost by review

The fourth session of the Vietnamese-Hungarian Joint Committee on Economic Cooperation took place in Ha Noi yesterday.

ADB to help VN quest for higher economic status
ECONOMY Nov 1st at 12:35

ADB to help VN quest for higher economic status

The Asian Development Bank (ADB) yesterday emphasised the institution's continued assistance to Viet Nam and their hope that this would allow the country to reach...

Ministry projects 8% inflation
ECONOMY Oct 31st at 12:43

Ministry projects 8% inflation

The country's consumer price index (CPI) was expected to increase 8 per cent for this year against last year if the state continued existing policies on curbing...

Retail sales up in October
ECONOMY Oct 30th at 13:10

Retail sales up in October

Retail sales of goods and services exceeded VND200.93 trillion (US$9.6 billion) nationwide in October, an increase of 1.3 per cent over the previous month, the...

Read More

MOST READ

Back To Top