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Business

Vietnam textiles gearing up for TPP

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A textile factory in Bac Giang Province, near Hanoi.   © Reuters

HANOI -- Vietnamese businesses are getting ready for the introduction of the Trans-Pacific Partnership, hoping the free trade agreement will usher in an era of unprecedented growth.

     The Vietnam National Textile and Garment Group (Vinatex), the country's largest textile company, plans to invest $91 million to build a second plant on a 3.7-hectare site in the southern province of Kien Giang. The plant, scheduled to open by next spring, will have 32 production lines and the capacity to produce 12 million items of clothing or linen annually. It is expected to boost sales by $37 million.

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