10:11 | 22/06/2016 Investment
The Far Eastern Group from Taiwan (China) is accelerating a USD 760 million project serving cloth and fiber production in southern Binh Duong province’s Bau Bang Industrial Park.
Earlier, the group established the Polytex Far Eastern Vietnam Ltd Company and injected USD 274 million in a project serving the garment and textile sector in the Bau Bang Industrial Park.
Deputy Chairman of the provincial People’s Committee Tran Thanh Liem said the Far Eastern Group’s plants will create jobs for about 7,500 locals and contribute to boosting the supporting industry for the garment and textile sector in the province.
The provincial People’s Committee is making its efforts so that the project will be completed in 2017.
According to the Binh Duong Garment-Textile Association, nearly USD 500 million in foreign direct investment (FDI) have been pumped into the garment and textile sector in Binh Duong after the signing of the Trans-Pacific Partnership (TPP) agreement./.