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Two companies with Korean investment to construct clothing factories in Quang Nam

YarnsandFibers News Bureau 2015-07-31 16:00:00 – Quang Nam

Panko Tam Thang and Duck San Vina, the two companies with Korean investment has began their garment projects in the provincial Tam Ky City's Tam Thang Industrial Zone (IZ) yesterday. The companies are the first to commence the construction of plants in the 193ha IZ with a total investment of US$80 million.

The textile and garment-dyeing plant, the first of its kind in Quang Nam, will employ 15,000 workers when it becomes operational.

Quang Nam is the fourth province to develop a fibre-weaving and dyeing industry after Nam Dinh, Hung Yen and Binh Thuan provinces. The Tam Thang IZ has attracted five foreign investors with a total registered fund of $150 million.

This is the second project Panko has invested in Vietnam, after the $70-million plant in Binh Duong's My Phuoc 1 IZ was launched in 2002.

Panko, a wholly foreign owned project set up over an area of 33.5ha and involving an investment of $70 million, plans to produce 48,000 tonnes of textiles and dyed textile products.

According to the Head of the management board of Chu Lai Open Economic Zone Do Xuan Dien, the two textile and garment-dyeing projects would help to attract investment from domestic and foreign firms to the Tam Thang IZ in the future.

They have also invited investment in the garment and textile industry in the IZ as the province has assigned it as a major textile zone. The province also offers a skilled and competitive labour force.

As per the schedule, the Hirdaramani Group from Sri Lanka will open its $50-million garment and textile project in the IZ this September.

Chairman of the provincial people's committee Dinh Van Thu said that 91 textile and garment companies, operating in the province, produced VND2.9 trillion ($138 million) of products last year, which was 6.6 per cent of the province's total industrial production value.

The textile and garment industry produced 55 million metres of cloth and created jobs for 3,000 workers.

The province had called for more investment and co-operation from foreign partners in the supporting industries for garment and textile industries in IZs.

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