DUTCH GOVERNMENT PROVIDES GRANT FOR NAM DINH TEXTILE COMPANY

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DUTCH GOVERNMENT PROVIDES GRANT FOR NAM DINH TEXTILE COMPANY

Hanoi, 29 November 2000

Nam Dinh Textile Company, one of the oldest and largest textile mills in the country with over 8,000 employees today, has entered a contract with Brugman Machinefabriek from the Netherlands for supply of a modern mercerizing range. This is as part of their plan to modernize their textile finishing plant to meet quality standards for export. The textile industry is presently the third largest foreign currency earner for the Vietnamese economy with export turnover forecasted to reach over US $4 billion in 2005. However due to obsolete technology and inefficient operation methods most  cloth for the garment industry is still imported. The investment will contribute to Nam Dinh being able to produce high quality cloth, both for the local as well as the export market.

The project is financially supported with a grant of NLG 955,430 of the Dutch Government under the so-called Oret programme from the Dutch Ministry of Foreign Affairs.

Brugman Machinefabriek is a European supplier of state of the art continuous wet finishing ranges for the textile industry and active in Vietnam via their agent – Peja Vietnam since 1993. Their references include private as well as state owned textile factories in Vietnam.

Through the ORET-programme,  over the last 11 months alone, the Netherlands has made available a total of 29 million guilders, roughly some 12 million dollars, towards similar transactions.