Vietnam improves textile yarn self-sufficiency
According to Vietnam’s “Investment News”, some large-scale spinning enterprises in Vietnam have successively put into production and started construction. The self-sufficiency rate will increase to 70% in 2012, gradually changing the situation of long-term dependence on imported spinning.
At the end of 2011, the Dinh Vu polyester yarn factory invested by Vietnam Petrochemical Fiber Joint Stock Company (PVTEX) was completed and put into operation. In 2012, the yarn output will be about 150,000-175,000 tons, which will meet 40% of the domestic market demand, thus increasing the spinning self-sufficiency rate. to 70%. In June 2012, the spinning mill invested by Japan’s Itochu Corporation (Itochu) in Nam Dinh Province will start construction and is expected to be put into operation in 2013, with a total investment of US$120 million and an annual output of 50,000 spindles. After the project is put into operation, it will further improve Vietnam’s spinning self-sufficiency.
According to reports, there are currently more than 3,700 textile and garment companies in Vietnam, 17% of which are textile companies. The yarn required for production is mainly imported from mainland China, Taiwan, South Korea and India.
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