Vietnam Top Apparel Maker to Build US$18.8 Mln Garment Complex
Viet Tien Garment Corp, the country’s biggest garment maker, plans to invest over VND300 billion (US$18.8 million) in building a garment complex serving for export at Dong-Nam economic zone in central Nghe An province, state media reported Wednesday.
In the first phase, Viet Tien will inject VND50 billion (US$3.1 million) into the complex, which is expected to create over 1,000 jobs for locals, said the company.
It, however, did not mention about other details of the project.
The 51 per cent state-owned apparel maker with 21 subsidiary companies targets to obtain revenue of VND1.25 trillion (US$78 million) in 2008 and raise its registered capital to VND250 billion in the next two years from the current of VND230 billion.
The Ho Chi Minh-based company has recently been approved to auction 4 million shares by the Ministry of Industry and Trade. (Vietnam Industry)
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