1.7 trillion VND weaving factory launched in Nam Dinh
A 1.7 trillion VND (73.1 million USD) 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.
The inauguration ceremony of the Bao Minh weaving factory in Nam Dinh province on October 30 (Photo: VNA)
Nam Dinh (VNA) – A 1.7 trillion VND (73.1 million USD) weaving factory invested by BaoMinh company has just opened in the northern province of Nam Dinh, which isexpected to generate more than 800 new jobs in the locality.
The factory, covering over100,000sq.m, is designed to produce over 35 million metres of fabric each year– 70 percent of which will be yarn-dyed, earning 1.1 trillion VND (47.3 millionUSD) in the 2018-2020 period and 2.1 trillion VND (90.3 million USD) from 2020.
There are many piecesof high technology equipment that are new in Vietnam, including the EnterpriseResource Planning (ERP) solution, to be used at the factory.
According to Tran DangTuong, General Director of Bao Minh Company, the firm has invested more than 80billion VND to build 160 apartments for 700 workers to live in for free.
Addressing the launchingceremony, Deputy Minister of Industry and Trade Tran Quoc Khanh said that theoperation of the factory will help deal with problems in Vietnam’s apparel sectorin terms of the development gap between sewing and waving-dying processes.
He expressed his hopethat the factory will become the leading woven fabric factory in Vietnam, whileensuring the firm’s social responsibilities. –VNA
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The inauguration ceremony of the Bao Minh weaving factory in Nam Dinh province on October 30 (Photo: VNA) 
