A Textile Industrial Park Is Come up in Nghia Hung District of Vietnam's Nam Dinh Province

A textile industrial park is likely to come up in Nghia Hung district of Vietnam’s Nam Dinh province, and on completion it would become the largest textile park in Vietnam, reports Vietnam Plus.

The industrial park would be set up on 1,500 hectare of area, jointly by Vietnam National Textile and Garment Group (Vinatex), China’s Jialida Company and the Hong Kong-based Luenthai Company, at a cost of US$ 400 million.

Representatives of the investors had a meeting with provincial officials, wherein they requested that the provincial government shortly handover the land to them for construction of the textile park, and also introduce preferential policies for the financers.

The vice chairman of the provincial People’s Committee said the cleared space would be handed over to the investors by the end of this year, and added that Nam Dinh government would also create a favourable environment for the investors.

The provincial officials suggested that the three investors establish a joint venture, secure ecological and environmental clearance of Nam Dinh’s sea territory for setting up the project, and also ready their finances.

In turn, the representatives of the investors said they would begin construction of the textile park as soon as the land is made available to them.

The new textile industrial zone, once functional, is likely to create 160,000 new jobs and generate $3-4 billion of revenue each year.