Vietnam garment giant Thai Tuan begins building $470 mln factory in southern Vietnam
Thai Tuan Group JSC, a major Vietnamese garment business, kicked off the construction of a VND12 trillion ($471.4 million) factory in the Mekong Delta province of Long An last Saturday.
The 36-hectare facility, located in Duc Hoa III industrial park, has an annual capacity of 180 million meters of fabric, equivalent to 36,000 tons.
Speaking at the ceremony, Long An Chairman Nguyen Van Ut emphasized the province’s advantages for investment, including its prime location as a gateway to the Mekong Delta and Ho Chi Minh City. He also requested relevant provincial agencies to facilitate the project implementation.
Former State President Truong Tan Sang speaks at a project groundbreaking ceremony of Thai Tuan Group in Long An province, southern Vietnam, May 25, 2024. Photo courtesy of Long An newspaper.
Joining the event, former State President Truong Tan Sang said Thai Tuan's investment is an indication that Long An is capable of hosting green and modern projects of giant investors.
The project is Thai Tuan’s further commitment in Long An province, after it begun building a laundry-textile factory and garment plant there in June 2022. The 85-hectare complex has an investment of VND16 trillion ($628.3 million).
Garment, a major export product of Vietnam, was the country's fourth-biggest export earner in January-April at $10.42 billion, up 6.7% year-on-year, behind computers, electronics and spare parts; phones and spare parts; and machines and equipment, according to customs data.
- Related News
- Read More
Vietnam has sufficient conditions to develop modern financial market: Prime Minister
Vietnam possesses all the necessary conditions to develop a modern financial market, including the establishment of international and regional financial centers, Prime Minister Pham Minh Chinh said on Saturday.
Finance - Sat, January 4, 2025 | 3:17 pm GMT+7
Vietnam's industrial hub Binh Duong province okays 23 projects
Binh Duong province, a manufacturing hub in southern Vietnam, on Thursday granted investment registration certificates and in-principle approvals to 23 projects, with total registered capital exceeding $1.7 billion.
Investing - Sat, January 4, 2025 | 2:15 pm GMT+7
Herbalife Vietnam fined $8,000 for violating multi-level marketing rules
The National Competition Commission has fined Herbalife Vietnam, a U.S-invested dietary supplement company, VND205 million (over $8,000) for its violations in multi-level marketing.
Companies - Sat, January 4, 2025 | 12:35 pm GMT+7
Vietnam to abolish VAT waiver for low-value imports amid e-commerce boom
Vietnam will scrap an existing regulation that exempts low-value imported goods from value-added tax (VAT) and import taxes starting February 18.
Economy - Sat, January 4, 2025 | 11:09 am GMT+7
China’s Universal Scientific Industrial to inject additional $2.8 mln into building Vietnam plant
Mainland China-based Universal Scientific Industrial (USI), an electronics supplier under Taiwan-based ASE Technology Holding, will pour VND70 billion ($2.8 million) more into its factory construction in Vietnam.
Industries - Sat, January 4, 2025 | 10:30 am GMT+7
Vietnam telecom giant Viettel logs record profit of $2 bln in 2024
The Military Industry and Telecommunications Group (Viettel) posted a record consolidated pre-tax profit of VND51 trillion ($2.01 billion) in 2024.
Companies - Sat, January 4, 2025 | 8:00 am GMT+7
Thai Prime Minister declares $400 mln in assets including 217 luxury handbags
Thailand’s Prime Minister Paetongtarn Shinawatra has declared her personal assets worth more than $400 million, including 217 luxury handbags and 75 luxury watches.
Southeast Asia - Fri, January 3, 2025 | 9:32 pm GMT+7
Thailand works to increase agricultural product value
Thailand's Department of Intellectual Property (DIP) plans to add 22 products to the geographical indication (GI) list in 2025, aiming to increase the market value of GI products to over THB5.9 billion ($171.4 million).
Southeast Asia - Fri, January 3, 2025 | 9:23 pm GMT+7
Thailand promotes investment in five 'future industries'
The Thai government aims to attract more investments in five core “future industries” by improving the ease of doing business through amended laws and regulations, according to Jirayu Houngsub, spokesman for Prime Minister Paetongtarn Shinawatra’s Office.
Southeast Asia - Fri, January 3, 2025 | 9:19 pm GMT+7
Vietnam PM orders construction of 2 LNG-fired power plants to begin in Q2
Vietnamese Prime Minister Pham Minh Chinh has instructed the construction of two LNG-fired power plants in Quang Ninh and Thai Binh provinces to begin in the second quarter of this year.
Energy - Fri, January 3, 2025 | 5:26 pm GMT+7
VN-Index records sharpest decline in 5 months
Vietnam's benchmark VN-Index dropped 15.12 points, or 1.19%, to 1,254.59 on Friday, marking its deepest fall in five months.
Finance - Fri, January 3, 2025 | 5:00 pm GMT+7
Apple supplier Luxshare-ICT to invest extra $11.5 mln in central Vietnam
China’s Luxshare-ICT, a supplier of Apple, will invest an additional $11.5 million in Vietnam’s central province of Nghe An, according to a project report.
Industries - Fri, January 3, 2025 | 4:41 pm GMT+7
Vietnam's steel heavyweight Hoa Phat to start operating $3.34 bln factory in 2025
Vietnam’s leading steelmaker Hoa Phat will start operating its VND85 trillion ($3.34 billion) steel plant in the central province of Quang Ngai in 2025.
Companies - Fri, January 3, 2025 | 3:50 pm GMT+7
Vietnam needs 2,400 staff for 2 nuclear power plants, only 460 people trained
Vietnam requires approximately 1,200 staff to operate a 2,000 MW nuclear power plant, or 2,400 are needed for two 2,000 MW nuclear power plants in the central province of Binh Thuan.
Energy - Fri, January 3, 2025 | 12:02 pm GMT+7
Vietnam's steel industry to record profit growth in 2025 on rising domestic demand: broker
Vietnamese steel makers are expected to continue recording positive profit growth in 2025, but at a lower pace, according to leading broker SSI Securities.
Companies - Fri, January 3, 2025 | 11:33 am GMT+7
Central Vietnam province proposes 3,000 MW LNG-fired power plant
Ha Tinh authorities are proposing a 3,000 MW LNG-fired power plant project, Vung Ang 3, to be built in the central Vietnam province.
Energy - Fri, January 3, 2025 | 10:42 am GMT+7
