Vinatex (Vietnam National Textile and Garment Group) has plans to build a new textile complex to manufacture yarn and fabrics in the An Lao district of Hai Phong. This is in line with its policy of building projects in the region.

In a statement issued by Vinatex, vice president of the group Hoang Ve Dung and other representatives are working with the regional government of Hai Phong, in order to develop this project. The complex is one of the key projects taken up by the group in order to take advantage of the Trans-Pacific Partnership (TPP) agreement which is expected to be signed next year.

According to Dung, Vinatex will construct the complex entailing an investment of Vietnamese dong 2.2 billion, and the complex would include sections dedicated for manufacturing of yarns, fabrics and garments as well as for textiles finishing and dyeing.

On completion the complex would employ nearly 5,000 people from the region and would produce high-quality diversified textile products aimed at increasing textile exports from the country.

Vinatex is one of the largest textile and garment corporations in Asia. The group includes nearly 120 subsidiary companies that produce textile and garments and run commercial services. These companies also have their own distribution systems including wholesale and retail dealers.