3:14:55 PM | 1/2/2012
Vietnam National Textile and Garment Group (Vinatex), the country’s largest textile and clothing producer plans to sell its shares to the public in 2012 in a bid to edge competitiveness.
The equitization plan will help Vinatex to seize opportunity to become more competitive.
So far, 95% of the group’s assets have been evaluated.
The group’s investment in non-core activities now is VND 200 billion (US $9.6 million), or 7% of its property.
Textile and garments accounted for over 30% of Vietnam’s total exports in 2011. The sector gained a trade surplus of around US $6.7 billion last year. In 2012, the sector is targeting a trade surplus of $7 billion.
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