Construction on a textile factory began in the southern province of Binh Duong on October 6th, marking the first joint-venture between businesses from Hong Kong (China) and Vietnam.

At the groundbreaking ceremony

Funded by Hong Kong’s Haputex Development Limited and Viet Huong Investment Development JSC, the USD 120 million facility will cover an area of 12ha and produce 36 million meters of fabric per year, once it starts operations in late 2015.

By 2019, the factory aims to expand its annual capacity to 96 million meters of fabric, predominantly using made-in-Vietnam materials and technology from Germany and Japan.

Nearly 90 percent of products will be exported to the US, with the rest going to Japan.

Over 3,000 local residents are expected to be employed by the factory.

Source: VNA