The Government has offered financial support to the Việt Nam National Textile and Garment Group (Vinatex) for training the labour force in the textile and garment industry this year. The funds worth of VNĐ63.5 billion (US$2.9 million) would come from the State budget for education and training activities, reported the Đầu tư (Investment) online. Former Prime Minister Nguyễn Tấn Dũng has asked Vinatex to manage and use the funds under the existing re

PV Tex, of which PetroVietnam holds 74 percent of stake, halted its operation in September 2015 because of loss. In an effort to rescue the company, PetroVietnam has repeatedly asked to underwrite PV Tex’s products and impose high taxes on foreign imports since the factory became operational in 2014. PV Tex, capitalized at $325 million, was set up to take full advantage of the materials produced by the Dung Quat Oil Refinery and provide materials to the Vietnam’s textile & garment industr

Spinners managed to lay hands over the quality lint amid modest trading activity, dealers said on the cotton market on Tuesday. The official spot rate was unmoved at Rs 5,350 dealers said. In the Punjab prices of seed cotton were at Rs 2400 and Rs 3100, they said. In the ready business, nearly 1600 bales of cotton changed hands between Rs 5275 and Rs 5500, they said. According to the market sources, the spinners managed to make deals of fine quality, in the meantime they failed to go in a bi

Sri Lankan textile major Textured Jersey Lanka PLC (TJ) recently signed a Memorandum of Understanding (MoU) with the University of Peradeniya (UoP) to expand the smart textile segment of the industry. The company will fund research on the development of advanced textile materials, conducted by an expert research team appointed by UoP, it said in a press release. The exercise has a long-term goal of taking the textile industry in Sri Lanka and the region to the next level. TJ will use the rese

The government has asked the Central Institute for Cotton Research (CICR) to develop non-hybrid Bt cotton variety. With US-based seed giant Monsanto under fire in India over monopoly concerns, the government has expedited work to bring out a local genetically-modified version of cotton seed by next year, according to a PTI report. "The Central Institute for Cotton Research (CICR) has been doing research in GM cotton for quite some time now. In a recent meeting, the issue was discussed and

Trans-Pacific Trade Partnership likely to have serious implications on the textile sector, besides hitting garment exports to the US, the Indian Texpreneurs Federation has approached the government to take a closer look at the possible impact on the textile sector. In a letter to the Commerce Minister Nirmala Sitharaman, ITF Secretary Prabhu Damodharan reasoned that exporters from TPP member countries will get preferential access in the US market while non-members like India will lose out, es

China is encouraging its provinces and businesses to engage more with the western Nigerian state of Kwara, said the Chinese Ambassador to Nigeria Gu Xiaojie when meeting with the state governor in March. Also, the Vanguard newspaper of Nigeria quoted Gu as saying China will prioritize its relationship with the textile sector in the Kwara state, which is developing a textile industrial park. With the oil industry as a major pillar of the economy, plunging oil prices mean the most populous

The Punjab-based textile industry has thanked to the government for 24/7 gas supply on affordable price. The millers are appreciative of the Prime Minister Nawaz Sharif, Chief Minister Punjab Shehbaz Sharif and the Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi for bringing the cost of doing business down in Punjab by supplying Re-gasified Liquid Natural Gas (RLNG). In order to honour the efforts made by the Sui Northern Gas Pipelines Limited, the Punjab chapter of

Textile companies of Swaziland which were hard hit by the loss of the lucrative duty free market under African Growth and Opportunity Act (AGOA) of the US Government, have found another preferential market that is ready for textile products. The market was opened on April 1, 2016 when the Preferential Trade Agreement between MERCOSUR and the Southern African Customs Union (SACU) entered into force, the Times of Swaziland has reported MERCOSUR is South America's leading trading bloc. Known

Chinese conglomerate Jiangsu Sunshine Group plans to make investment of $350 million to set up a textile plant in Ethiopia in a bid to boost the country’s textile industry as the textile industry is believed to be a bridge for economic development and making Ethiopia Africa's textile industry hub. The plant will be located in the industrial park of the city of Adama which will produce 10 million meters of worsted wool fabrics and 1.5 million finished parts. The project has been announced a