Strategic Cooperation between Vinatex and Systems Supplier Rieter
The high-ranking delegates of Vietnamese textile company Vinatex Mr. Tien Truong, Chairman of the Board of Directors, and Mr. Tran Quang Nghi, Vice Chairman of the Board of Directors, met with representatives of Rieter, the world’s leading supplier of systems for short staple fiber spinning, in Belgium on September 8, 2021, to deepen collaboration and to establish a strategic cooperation covering the country’s fast-growing textile industry. The meeting was initiated by German trading house ILLIES.
The meeting focused on strategic topics. Vinatex shared its investment plan for the next five years which is designed to consolidate its position as Vietnam’s leading manufacturer of high-quality yarn. The two parties further discussed plans to establish a training plan for textile engineers at Hanoi’s Industrial Textile Garment University to meet the growing demand for highly qualified personnel.
In addition, both parties exchanged views on future developments of the global natural fiber market after the COVID-19 pandemic. Due to Vinatex’s increasing investments in Nam Dinh and other northern provinces, ILLIES and Rieter will further expand the after sales service and training capacity in this area. Mr. Truong highlighted ILLIES’ repair and service center in Ho Chi Minh City as a shining example of customer centricity.
With textile and apparel exports totaling USD 40 billion, Vietnam is now the world’s second largest exporter after China. The Vinatex Board of Directors aims to achieve sustainable growth in this attractive market. Rieter’s advanced automation solutions offer promising solutions for customers against the backdrop of the country’s increasingly tight labor market with rising labor costs and labor shortages.
Moreover, recycling is becoming increasingly important, not only for man-made fibers but also for cotton yarns. Rieter has unmatched experience in this rapidly emerging field of recycled fibers and can advise Vinatex on the best solutions available on the market.
The next meeting will hopefully take place in Vietnam again.