$72m garment factory opens in Nam Dinh
$72m garment factory opens in Nam Dinh
Bao Minh Garment and Textile Joint Stock Company on Tuesday inaugurated its new garment factory in the northern province of Nam Dinh.
Construction on the factory started in early 2017 on an area of over 100,000sq.m, with a total investment of more than VND1.7 trillion (US$72.74 million), in Bao Minh Industrial Park.
The plant engages in materials and accessories production, ranging from fibre processing and textile to dyeing and finishing. Its production chain concentrates on woven fabrics for shirting, 70 per cent of which is from yarn dye and 30 per cent from piece dye.
Speaking at the inauguration ceremony, Deputy Minister of Industry and Trade Tran Quoc Khanh said the operation of garment factories such as Bao Minh Textile will partly help realise the goal of removing bottlenecks to the Vietnamese textile and garment industry, closing the gap in textile dyeing.
“I believe the factory will bring in full production capacity, create more jobs for employees and spread the social responsibility to other businesses,” Khanh added.
According to chairman of the Bao Minh Garment and Textile JSC Vu Duc Giang, the factory’s production line utilises the most advanced equipment of famous manufacturers in the world such as Fongs, Toyota, Otshoff-Singeing, Lafer, Staubli and Goller.
A number of high-tech equipment pieces in the plant appear for the first time in Viet Nam. Additionally, Oracle’s Enterprise Resource Planning (ERP) solution has been deployed, bringing many advantages for the operation of Bao Minh Textile plant over the long term.
The company estimates the annual revenue of this factory will reach over VND1.1 trillion in 2018-20 period and from 2020 onwards surpass VND2.1 trillion per year, creating jobs for 800 workers in Nam Dinh Province.
