The following is a round-up of apparel and footwear news from the world’s local media.
- Vietnam state-controlled Gia Dinh Textile and Garment Co has sold more than 15m shares, equivalent to a 24.28% stake, for VND155.8bn (US$6.89m) in an initial public offering. The firm is slated to sell another 25% to strategic partners and 1.72% to staff, reducing state ownership to 49%. THANH NIEN NEWS
- Kenya is to set up investors near the country’s geothermal plants, particularly at the shores of Lake Naivasha, to cut the cost of electricity in order to compete with its neighbours. ALL AFRICA
- Nigeria’s government has assured the country’s garment and textile workers it will do all it can to tackle the challenges facing the industry. It will also encourage textile workers to prioritise skills development and adhere to global standards in order to more effectively compete, create jobs, and combat counterfeiting. THE NATION
- India’s Textile Ministry has urged the government to expedite Free Trade Agreements with the US and European Union to help double exports. In a further bid to boost exports, the Ministry is planning to enter into Australia, CIS and Africa regions through bi-lateral agreements, diversifying product offerings, and conducting road shows. THE HINDU
- Illegal strikes in Cambodia, the minimum wage and high electricity costs are among concerns facing Japanese investors in the country, according to the Council for Development of Cambodia (CDC). A meeting between the two nations earlier this month also heard that Japan imported products from Cambodia worth about $967m last year, mostly shoes and garments. KHMER TIMES
just-style has not checked these stories so cannot guarantee their accuracy.