Singapore Textile Firm Invests $590M in Vietnam Project

A Singapore-based textile firm is gearing up for an ambitious $590 million investment in Vietnam, targeting the Tho Loc Industrial Park. Operated by Mega Textile Singapore Limited, a subsidiary of Best Pacific, this extensive project spans over 51 hectares and is set to unfold in three phases, ultimately aiming to create a significant boost in job opportunities within the region.

The initiative is expected to generate around 15,000 jobs, a substantial figure that reflects the project’s impact on the local economy. The construction timeline is structured to commence with Phase 1 in the second quarter of 2028, followed by subsequent phases culminating in full operational capacity by 2034. This strategic move aligns with Vietnam’s growing textile sector, underscoring its importance in the global market.

Once fully operational, the facility will manufacture a diverse array of products, including textiles, knitwear, yarns, belts, and garments. Annual production estimates highlight the scale of this venture, projecting outputs of 67,200 tonnes of fabric, 10,300 tonnes of knitwear, 7,200 tonnes of colored yarn, and an astonishing 130 million garments, among other products. As the project progresses, it aims to redefine Vietnam’s standing as a key player in the textile industry while reinforcing Mega Textile’s commitment to quality in textile manufacturing and trade.