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Far Eastern New Century to expand business in Vietnam
20
Oct '16
Taiwanese manufacturer and supplier of textile materials Far Eastern New Century considers Vietnam as the best destination for diversifying its manufacturing base from China. Cheap yet quality labour as well as lower tariffs in Vietnam are some of the reasons why the manufacturing company is doubling production lines at its clothing factories in the country.

The company that is expecting a growth of 300 per cent in a year at its fabric dyeing and finishing plants will continue to build additional facilities such as fabric and yarn factories in the country, according to Taiwanese media reports.

Eric Hu, president of Far Eastern New Century, said at a trade show that the company cannot think of a market better than Vietnam to build their new manufacturing base.

He said that Vietnam could also benefit from the Trans-Pacific Partnership (TPP), an agreement signed between 12 countries including Vietnam and the US to help create the largest free trade bloc in the world. It is yet to be approved by parliaments of the participating nations, though.

The Taiwanese firm supplies materials to multiple global brands like Under Armour, Adidas, H&M, Columbia, J.Crew and more. (KD)

Fibre2Fashion News Desk – India


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