Phong Phu to invest VND 1trillion each year for textile support industry

Mr. Pham Xuan Trinh, General Director of Phong Phu Textile Corp said in next 6 years, Phong Phu will invest each about VND 1trillion for textile support industrial chain and expand its manufacturing, aiming to reach its revenue of US$ 1billion by 2020.

In order to take preferential tax and speed up textile export in the 2015-2016 periods, Phong Phu will invest high-end technology machines with its output of 3,200 tons per year.

In 2014, it is expected to earn revenue of VND 7,3trillion, of these, domestic revenue will be for the fraction 1/3, net profit of VND 320billion.

Phong Phu is one of leading enterprises in textile industry of Vietnam and its product accounts 30 percent of domestic consume market share.

M.Hanh –Translated by Thanh Tran

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