A delegation of the Vietnam National Textile and Garment Group (Vinatex) made a fact-finding trip to Armenia in late August to seek partners to develop production projects, Vietnam Plus reported.

Vinatex General Director Le Tien Truong said during their stay, the group’s representatives held working sessions with Armenian officials and some major businesses in Yerevan.

He said Vinatex will consider production and business cooperation with big companies of Armenia that have already had distribution networks in Russia and the EU. In the initial stage, the group will mainly contribute machinery and production administration.

At the meetings, the Armenian Government expressed its desire to cooperate with major firms with much experience in production management like Vinatex so as to revive the local garment industry and boost export.

It also promised to encourage investment attraction, create favourable conditions for foreign investors, and provide special mechanisms for Vietnamese investors through cooperation policies, multilateral and bilateral cooperation agreements, and granting of work visas, Truong added.

Vietnam is the first country to sign a free trade agreement with the Eurasian Economic Union.