In a bid to expand its production and distribution, Vinatex (Vietnam National Textile & Garment Corporation) plans to invest VND16 trillion (US $1 billion) by 2010.
This investment is for 24 key projects in all segments of the industry including feedstock, distribution network, fashion research and design, and infrastructure.
An outlet for garment and textile and two centres for trading raw materials will be built in Hanoi and Ho Chi Minh City.
Moreover, the corporation will form association with local governments and foreign and private firms to set up a 1,000-hactare cotton farm in the central region, a 140,000-tons-per-year thread plant, and high quality yarn plants in industrial parks across the country.
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