October 30, 2018 | 20:18 (GMT+7)
VND 1.7 trillion weaving factory launched in Nam Dinh
A VND 1.7 trillion (USD 73.1 million) weaving factory invested by Bao Minh company has just opened in the Northern province of Nam Dinh, which is expected to generate more than 800 new jobs in the locality.
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At the inauguration ceremony of the Bao Minh weaving factory in Nam Dinh province |
The factory, covering over 100,000sq.m, is designed to produce over 35 million meters of fabric each year - 70 percent of which will be yarn-dyed, earning VND 1.1 trillion (USD 47.3 million) in the 2018-2020 period and VND 2.1 trillion (USD 90.3 million) from 2020.
There are many pieces of high technology equipment that are new in Vietnam, including the Enterprise Resource Planning (ERP) solution, to be used at the factory.
According to Tran Dang Tuong, General Director of Bao Minh Company, the firm has invested more than VND 80 billion to build 160 apartments for 700 workers to live in for free.
Addressing the launching ceremony, Deputy Minister of Industry and Trade Tran Quoc Khanh said that the operation of the factory will help deal with problems in Vietnam’s apparel sector in terms of the development gap between sewing and waving-dying processes.
He expressed his hope that the factory will become the leading woven fabric factory in Vietnam, while ensuring the firm’s social responsibilities.
Source: VNA