Vietnam to Spend US$2.75 Bln Making Shuttle Garment by 2015
Vietnam will spend US$2.75 billion producing shuttle garment to serve exports between 2008 and 2015, under program approved recently by Deputy Minister of Industry and Trade Bui Xuan Khu.
Under the program, Vietnam will make 1 billion square meters of shuttle garment in 2010 with 500 million square meters for exports and 1.5 billion square meters in 2015 with 1 billion square meters for exports.
Of the total investment, US$2.464 billion will be invested in dyeing-weaving industrial parks and dyeing-weaving fabric projects, US$56.5 million for PES fabric projects and US$50.3 million for other supporting projects.
Vietnam’s textile and garment industry, which is housing around 2,000 businesses including 500 foreign-invested ones, is now the second largest forex earner in the country behind crude oil.
In the first eleven months this year, Vietnam is estimated to export US$8.38 billion worth of textiles and garments, up 19.1 per cent on-year. The figure for the whole year is expected to reach US$9.2 billion-US$9.3 billion. (Investment)
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