Textile group Vinatex will send a delegation to Taiwan (China) to offer investment chances in its new industrial zone, said Vinatex Investment Joint Stock Company General Director Vuong Tran Lam.

Lam said the delegation will meet with more than 50 enterprises from the Taiwan Association of Computational Mechanics, Taiwan Textile Federation and other manufacturers of agricultural products and consumer goods, to persuade them to invest in Bao Minh industrial zone in the northern province of Nam Dinh.

The 165.3-ha zone covering three communes of Lien Minh, Lien Bao and Kim Thai in Vu Bao district with a capitalisation of VND264 billion aims to target investors towards the production of garment and textile as well as high-tech and environmentally friendly products.

The delegation expects to sign three contracts valued at around US$2 to 3 million each with several Taiwanese counterparts.

Earlier, the company worked with Taiwan's two leading textiles companies on an agreement to rent 60 hectares in Bao Minh industrial zone.

In addition, Vinatex Investment will hold investment promotion conferences in the Republic of Korea and Japan.