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FDI in Vietnam's textile & garment sector increases in H1

While FDI to Vietnam has fallen significantly in the first six months of 2015, heavy investments were made into the textile & garment sector. The sector saw at least $1.12 billion out of the $5.58 billion worth of capital registered into it. One of the three largest projects was capitalised at $660 million, the highest ever in the field. The project, in a yarn factory in Dong Nai province, was registered by an investor from Turkey.

Others include a $300 million project by a British investor in HCM City and a $160 million project in Tay Ninh province by a Hong Kong investor. Prior to that, Vietnam licensed three large projects to investors from China, including $400 million textile & garment complex in Nam Dinh province, $300 million in Quang Ninh province and $200 million in Hai Duong. Smaller projects are capitalised at tens of millions of dollars. Forever Glorious, a subsidiary of Sheico Group from Taiwan, has committed to invest $50 million in a project to make underwater sportswear.

Gain Lucky belonging to Shenzhou International plans to invest $140 million to develop a fashion design and high-end product development center. According to the Vietnam Textile and Apparel Association (Vinatas), once Vietnam officially joins TPP, it would enjoy a zero percent tariff when exporting textile & garment to the US instead of 17-30 percent.

Except Vinatex, there is no other company into production of input material, which is the biggest challenge for Vietnam’s textile and garment industry since it has to rely upon imports from China.

 
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