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Clothing sector magnet for foreign investment
02
Jun '10
A businessman of Chinese origin, Mr Cao from Wenzhou province has set up a garment production plant in Binh Duong Province, Vietnam (50 km from Ho Chi Minh City) on an area covering 9,500 square meters and has access to good infrastructure facilities.

He employs more than 80 Vietnamese workers, but equipment, blueprint, orders and fabrics, all come from China and the finished products are than exported to Europe and the United States. There are many others like Mr Cao, from countries like Taiwan and South Korea.

The main attractions are the cheap labour and land costs. Many businessmen from Wenzhou and other countries ship products like fabrics to Vietnam, to be converted in to ready-made garments and later exported to various overseas destinations across the globe.

Vietnam's textile and garment industry is a major force in exports from the country, with more than 80 percent of its total output meant for exports. Vietnam plans to build 11 textiles and garment industrial parks in 11 provinces and cities in 10 years.

And in order to attract more and more investments in to the sector, the Vietnamese government is expected to announce preferential policies in land transfer and taxes, which at the same time will also help generate employment within the country.

Fibre2fashion News Desk

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