by Apparel Resources News-Desk
16-January-2019 | 1 min read
Toray Industries, Inc., a renowned Japanese apparel and textile group, is all set to open its first fibre plant in Vietnam.
This was announced by Mitsuo Ohya, Senior Vice President, Toray Industries, Inc., in Hanoi on 14 January in a meeting with Tran Tuan Anh, Minister of Industry and Trade.
Toray’s fibre plant will have all the advanced techniques, which will be a first of its kind for any fibre plant in Vietnam.
Mitsuo Ohya further added that the fibre plant, which will be built in Nam Dinh province, is expected to be made on an investment of US $ 184.4 million.
The Minister said that Mitsuo Ohya’s visit was significant considering the increasing strategic business cooperation between Vietnam and Japan.
“It is expected to enhance the capacity of raw materials for the garment and textile sector in accordance with CPTPP rules of origin.” – Tran Tuan Anh, Minister of Industry and Trade, Vietnam
The Minister also said that the Ministry of Industry and Trade will accompany overseas companies and also Japanese business communities like Toray in its bid to convert Vietnam into a big destination for foreign trade.