Aurora IP embarks on forward-looking initiatives as global production shifts from China to Vietnam

KUALA LUMPUR, Oct 17 (Bernama) -- Aurora IP, a textile industrial park developed by Vietnam’s leading real estate developer Cat Tuong Group, is embarking on forward-looking initiatives as multinational companies shift their production from China to Vietnam.

“For the past few years, Vietnam has emerged as a very important supply chain node for the textile and garment industry.

“With the wave of operations shifting out of China, Aurora IP is considered one of the most ideal destinations for investors in the textile industry,” said Tran Quoc Viet, the chairman and chief executive officer of Cat Tuong Group in a statement.

Converging many outstanding advantages, many investors consider Aurora IP as the most preferable and potential destination in Nam Dinh province.

The development of a specialised textile industrial park like Aurora IP is one of the important factors contributing to the take-off of the industrial real estate market not only for Nam Dinh province but also for Vietnam.

With a total phase 1 area of about 520 hectares, Aurora IP aims to build a textile-dyeing specialised industrial park with a strategy of green – clean - sustainable development orientation, ensuring to improve the quality of life for the local community as well as a favourable working environment for experts and workers.

In addition to land leasing, Aurora IP also provides built-to-suit factory solutions which certainly boost flexibility for the investment plan of secondary investors.

Apple Inc in June this year was reported to be moving some iPad production out of China and shifting it to Vietnam, together with other tech giants such as Google, and Microsoft.

This made the country a hotter-than-ever destination in the wave of a global shift away from Chinese production.

Besides technology, textiles and garments also witnessed a strong shift away from China to Vietnam as the country continues to be an important link in the global supply chain.

-- BERNAMA