Vietnam'S Financial Companies Affiliated To Textile Enterprises Are Allowed To Raise Capital.
An official of the Vietnam textile and Garment Group (Vinatex) said that Vietnam's national bank has approved Vietnam textile and clothing finance company to raise capital of the company, aiming to provide support for textile and garment enterprises during the economic crisis.
Vietnam textile and apparel finance company is a Affiliated Companies of Vietnam Vinatex company. The purpose of establishing a financial company is to provide financial services for textile and clothing companies, such as loans, financial management, international pactions and so on.
According to the decision of the National Bank, its registered capital will rise from 234 million Vietnamese shield (US $1340) to 300 billion Vietnamese shield (equivalent to 17 million 200 thousand US dollars).
The government has been taking measures to help the local economy tide over the current crisis, especially for the textile and clothing export sector. The government allows financial companies to raise funds, which is a step in the government's measures.
Editor in chief: Xu Qiyun
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