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HANOI, Vietnam, May 11, 2022 (GLOBE NEWSWIRE) -- For the past two years, the pandemic has disrupted normal operations and supply chains across the globe and the textile industry is no exception. However, thanks to the governments' efforts in post-COVID-19 economic recovery strategies, the world's textile manufacturing sector this year is witnessing recovery signals. Vietnam is an important link driving the recovery of the supply chain and accelerating a transformation in the textile industry toward“go green” for sustainable development.
More than ever, global textile enterprises have shifted their priority to be in favor of“green businesses”. Sustainable development ranks as the most important strategic objective for companies in this sector. According to ResearchAndMarkets.com, Asia Pacific is expected to register significant growth in the overall green textiles market owing to the widespread adoption of greener technologies in order to address the environmental concerns in the region and to meet the rules of origin of garment and textile products.
As the garment and textile industry is a mainstay of the economy, Vietnam's government also considers greening the textile and garment industry is essential to fully exploit opportunities arising from Free Trade Agreements and participate deeply in the global value chain.
Vietnam Textile and Apparel Association (VITAS) also sets a goal of reducing energy consumption by 15%, water consumption by 20%; by 2030, transforming the greening textile and garment industry. By the end of 2020, Vietnam has 93 projects awarded LEED certification (of which 56% are factories) and 34 projects awarded LOTUS certification (of which 26% are factories), with many more projects in progress expecting to apply for these certifications.
Among them, Aurora IP developed by Cat Tuong Real Estate Group, is leading the trend in building and developing a green textile industrial park along with the sustainable growth in the textile industry.
Located in the northern Nam Dinh province, the cradle of the Vietnam's textile industry, Aurora is one of the very few IPs in Vietnam qualified to accommodate fabric-dyeing facilities. Its infrastructure is synchronously designed with the country's largest capacity of water supply and wastewater system as well as the development of complex social infrastructure.
Aurora IP is actively implementing land leveling for the whole area of 519.6 hectares. This shall aim to immediate hand-over clean land to the tenants upon the signing of land leasing agreement and to minimize any waiting time caused to the secondary investors.
As the textile industry brings negative environmental impacts, especially water pollution, Aurora's waste water treatment system is well designed with large capacity of 110,000 m3/day night, divided into modules with advanced and synchronous technology, shall ensure the receipt and treatment of all investors' wastewater before discharging into environment.
“Cat Tuong Group commits to our pursuit of developing the very first green – clean – sustainable textile-specialized industrial park in Vietnam. With Aurora IP, we hope to contribute to the government's effort to net-zero emissions by 2050 and partly contribute to the development of the global green textile market,” said Mr. Tran Quoc Viet - Chairman & CEO of Cat Tuong Group.
The global textile market is expected to grow from $530.97 billion in 2021 to $575.06 billion in 2022 at a compound annual growth rate (CAGR) of 8.3%. The market is expected to grow to $760.21 billion in 2026 at a compound annual growth rate (CAGR) of 7.2%, according to a report by market research solution provider ReportLinker.
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