Toray plans to invest in building a yarn factory in Vietnam
A few days ago, Mr. Mitsuo Ohya, senior vice president of Japan’s Toray Industries Group, expressed his desire to build a yarn factory in Nam Dinh Province, Vietnam, to Minister of Industry and Commerce Chen Tuan Anh of Vietnam. Toray Group is one of Japan’s large textile groups. It currently operates business activities in 26 countries around the world, with revenue in 2017 reaching US$20 billion. Recently, Mr. Mitsuo Ohya, senior vice president of the group, met with Minister of Industry and Commerce of Vietnam Tran Tuan Anh. At the same time, he expressed his hope to build a yarn factory with a scale of approximately 20 billion yen (approximately US$184.4 million) in Nam Dinh Province, Vietnam.
This will be the first factory in Vietnam to produce standard yarn using the most advanced technology and propose a long-term investment plan in Vietnam. On the other hand, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which officially came into effect at the end of 2018, has created huge opportunities for Vietnam’s textile and apparel industry, including foreign companies operating in Vietnam’s textile industry.
Title: Japan’s Toray plans to invest in building a yarn factory in Vietnam
AAA Fabric Network SVSGHRUTO
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