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Vinatex spends $25 mil to cope with increasing cotton cost

In Uncategorized on December 21, 2010 at 10:25 am

The fashion supermarket chain Vinatex announced it teamed up with local cloth suppliers to allocate VND500 billion (US$25 million) for stabilizing prices of textile products, which are hit hard by a 45 percent increase in imported cotton cost.

Vinatex provides loans for local suppliers in an attempt to help them keep prices unchanged. The fashion supermarket chain, known as Vietnam National Textile Garment Group, has also guaranteed stable supply with unchanged prices during the upcoming shopping season.




By M. Thi – Translated by Vu Minh

Source: SGGP

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