A factory producing raw materials for the textile and garment sector opened its doors in the central province of Thanh Hoá on Wednesday.

Covering 120,000sq.m in the Bỉm Sơn Industrial Park, the factory is expected to create more than 1,500 jobs in the first phase, with an estimated goods output of about US$100 million each year, congthuong.vn reported.

Speaking at the opening ceremony, Vice Chairman of Thanh Hoá People's Committee Nguyễn Văn Thi praised the factory, saying that it would contribute to fostering the province's socio-economic development and creating jobs for local people.

It would also make a contribution to facilitating the development of supporting industries for the domestic garment industry, reducing dependence on imported raw materials and increasing production initiative, he said.

Vũ Đức Giang, Chairman of the Vietnam Textile and Apparel Association agreed. He said that the launch of the factory would help meet huge local demand for raw garment materials while proactively reducing transportation costs for local garment firms.

General Statistics Office figures reveal that Việt Nam earned US$5.2 billion from exporting textile and garment products in the opening two months of 2024, a 15-per cent increase compared to the same period of 2023. The figures put textiles and garments in fourth position among revenue-generating sectors.

Last year, the country's garment and textile export turnover also saw a yearly rise of 10 per cent to $44.4 billion. — VNS