Prepare for the TPP and EVFTA in Vietnam, TEX-RAY Garment Factory in Long An Region starts to construct officially
With the benefit of Trans-Pacific Partnership (TPP), and active negotiation for Free Trade Agreement (FTA) with various countries, Vietnam will become the next potential worldwide factory within 5 to 10 years, becoming the most important production base in Asia after China.
In order to combine the benefit of TPP and EVFTA (Europe Vietnam Free Trade Agreement), TEX-RAY INDUSTRIAL CO., the experienced multinational textile conglomerate, has been expanding garment factories bases and working on local vertical integrations in Vietnam within the past few years. Beside the first garment factory in Binh Duong, Vietnam, the second garment factory is starting to build in Long An, Vietnam. On December 15, chairman, Ray Lin, with local government officials and suppliers joined the Groundbreaking Ceremony of the second garment factory; it was held successfully and with blessing.
TEX-RAY’s second Vietnam garment factory covers over 35,000 square meters. After the first stage completion of the factory, 20 garment production lines will be started on August 2016; and 18 more garment production lines will be added further on the second stage completion. The total production of the garment factory is planning to reach 80,000 Dz/month.
After the construction of the garment factory is completed; with combining lean management, high efficiency, and fashion + functions business strategy and localized supply chain, the second garment factory of TEX-RAY will become the conglomerate’s flagship factory in Vietnam. Yet, in order to offer one stop shopping for our customers, this garment factory will also become the center of the operation with the collocations of other factories in Vietnam, including the factory in Bing Duong and the third factory that is already on schedule. By the time TPP and FTA turns effective, the whole business strategy will bring the optimal benefit to the conglomerate.