HK invests $200m in garment project in Vietnam

HANOI - The TAL Group from China's Hong Kong plans to invest $200 million to produce fabrics, garments and textiles in Vietnam.

This is the second project of its kind in Vietnam, the online newspaper of the communist party of Vietnam reported on Sunday.

During a recent working session in Hanoi with Vietnamese Deputy Minister of Planning and Investment (MPI), Cao Viet Sinh, TAL Hong Kong Development Director Roger Lee said that his group wants to expand its investments in Vietnam with a $200 million worth project to manufacture fabrics, garments and textiles.

The products will be produced using modern technologies that do not cause pollution and the company will ensure environment standards, Lee said, adding that the group will also work on the project with representatives from the Vietnam National Garment and Textile Group (Vinatex) and the Ministry of Industry and Trade (MoIT).

The MPI is willing to support and create favorable conditions for TAL to expand investment in Vietnam and has assigned the Foreign Investment Agency to contact TAL on supporting the progress of the project, said the Vietnamese official.