Woolmark, Australia’s leading wool company, will help Vietnam'sgarment sector produce wool products to increase its profit andcompetitiveness.

Jimmy Jackson, General Manager at AustralianWool Innovation, made the commitment at a press briefing in Hanoi onJune 8, announcing its plan to support the Vietnamese garment sector indeveloping wool production and supply chains in the world market.

Jackson explained that Vietnam has a well-established textilemanufacturing industry and infrastructure, as well as skilled humanresources. The country is also the world’s second largest garmentexporter to the US and the third to Japan. It is also the topdestination for Republic of Korean companies to invest in.

All this creates a favourable condition for Woolmark to invest anddevelop fleece wool production and supply chains in Vietnam, hesaid.

Currently, there is no wool spinning plant in Vietnam,reducing the competitiveness of its garment products, and Merino fleecewool is suitable for the industry, Jackson said.

Woolmarkisinvesting 240,000 AUD in a Vietnam project to help local businessesdevelop wool production and supply chains to international market,Jackson affirmed.

Under the project which began in 2012,Woolmark experts have transferred technology of weaving and fleece woolproduction to Vietnam-VNA