NINH THUẬN APPROVES FAUX FUR FABRIC MANUFACTURING PLANT PROJECT

The Faux Fur Fabric Manufacturing Plant Project in Ninh Thuận received its investment certificate on October 15th , 2024, with a total FDI investment of VND139.7 billion. Located in Du Long Industrial Park, the project aims to introduce advanced textile technologies, focusing on weaving and dyeing solutions to enhance the local textile industry. This initiative will strengthen Ninh Thuan's and Vietnam's global market position. The plant is expected to create over 300 jobs, offering stable employment and skill development opportunities for the local workforce.

The project will operate under Industry Codes 1312 (weaving fabric production) and 1313 (textile finishing, including bleaching, dyeing, steaming, silk printing, and other related processes). These codes align with investment-attracting industries outlined in Decision 142/QĐ-UBND (March 31, 2024) and the development plan for light industries, including textile and garment supporting industries, per Decision 53/QĐ-UBND (January 14, 2016) in terms planning for industrial park & cluster for Ninh Thuan province until 2020, vision until 2030.

The project introduces high-quality faux fur manufacturing technology to Vietnam, spearheaded by Daewon Co., Ltd., a founding shareholder of Korea’s leading faux fur producer, Donglim Co., Ltd. Established in 1989, Donglim is renowned for premium faux fur fabric and acquired TISSAVEL, a French brand with over 100 years of heritage in luxury faux fur, in 2013. This acquisition provided Donglim with superior expertise and a strong competitive edge in the fabric industry.

The company's other two shareholders are key players in the fabric wholesale market in the U.S. and Asia. MN Inter-Fashion Ltd (Japan) is a joint venture between Nippon Steel and Mitsui Busan I-Fashion, specializing in fabric and garment distribution in Japan and Asia. Meanwhile, Paraivi Enterprises (USA) is affiliated with Shannon Fabrics, a renowned faux fur fabric distributor in the U.S.

The faux fur fabric manufacturing plant in Ninh Thuận will have an annual production capacity exceeding 4.5 million square meters (equivalent to 3,600 tons) in its initial phase.

Over the past two years, Du Long Industrial Park has attracted over 2,560 billion VND in total investment, of which 1,160 billion VND is foreign direct investment (FDI). This makes Du Long Industrial Park one of the most significant investment hubs in Ninh Thuận Province.

The approval of the faux fur fabric manufacturing project will further elevates Du Long IP’s status, marking a significant milestone in Vietnam’s textile industry development. It lays the foundation for the export of high-quality products to international markets, strengthening the nation’s global presence in the textile sector.