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As Vietnam moves ahead in T&A exports, Aurora IP will add to its growth story


As Vietnam moves ahead in TA exports Aurora IP will add to its growth story


Having grown in leaps and bounds over the last few years, Vietnam’s textile and garment industry has become an integral part of the global supply chain. In 2021, Vietnam became the world’s second largest textile and garment exporter overtaking Bangladesh. It exported textiles and garments worth $39 billion in 2021, nearly 12 per cent more than 2020, says the Vietnam Textile and Apparel Association.

FDI grows 7.8% Y-o-Y

While other textile manufacturing companies are struggling to deal with COVID-19 losses and drop in exports, Vietnam has become a bright spot in the global industry. As per a Global News Wire report, foreign direct investment in Vietnam is grew 7.8 per cent Y-o-Y with $4.42 billion investment disbursed in the first three months of 2022.

Vietnam’s textiles and garments sector is attracting the most FDI as traditional large-scale manufacturers like China, Japan, the Republic of Korea and Taiwan have reduced production in recent years. Vietnam is fast emerging an alternative apparel sourcing destination to China. The Nam Dinh province in the country is introducing new policies to support industrial real estate developers, leading to the setting up of new industrial parks in the province.

Boosting real estate development

A textile-specialized industrial park, Aurora IP is boosting the development of industrial real estate market. Being developed by the Cat Tuong Real Estate Group, Aurora IP is coming up in two phases. The first phase includes development of about 520 hectare textile-dyeing specialized sustainable industrial park to improve the lives of the local community, and creating a favorable work environment for experts.

The park will be equipped with a wastewater treatment system having a capacity of 110,000 cu m/day night and a surface clean water system with capacity of 170,000 cu m/day night. Its robust infrastructure will encourage the development of high-tech textile plans for dyeing processes.

The sustainable development strategy of the Cat Tuong Group along with the support of the local government will make Aurora IP, one of the most reliable destinations for development of a sustainable textile and garment industry, says Tran Quoc Viet, Chairman & CEO, Cat Tuong Group.


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