Garment, Textile Export Up 28 Per Cent in Jan-February

The Vietnam Garment and Textile Group (Vinatex) said Vietnam’s garment and textile export earnings were estimated to reach US$420 million in February 2007, down 26.3 per cent on month and up 37.7 per cent on year. In the first two months of 2007, the export value rose 28 per cent to more than US$1 billion.

 

In investment, Vinatex signed contracts for two big projects. The first one was a joint venture with Thien Nam Co. Ltd and the second one is a joint venture with South Korea’s Teachang to build a factory to manufacture denim cloths. The latter project costs US$40 million in the first phase, in which the South Korean side contributes 60 per cent.