Ha Noi — A 100% Japanese invested garment factory was officially inaugurated in the central province of Thua Thien-Hue yesterday.
The Tokyo Style facility has total investment capital of US$21 million and an operation duration of 50 years.
Located in Phu Bai Industrial Zone, the factory has a production capacity of 500,000 garments a year. For the time being, 95% of its products will serve for exports.
The factory plans to double its annual production capacity to one million items by 2015 and increase its domestic market share to 30% in the next couple of years, fetching a production value of $8 million a year.
The initiative is a subsidiary of the joint stock Tokyo Style Company based in Japan. -- VNS