Home / Knowledge / News / Textiles / FDI pours into Vietnam's Binh Duong province
FDI pours into Vietnam's Binh Duong province
22
Apr '16
The garment and textile sector in Vietnam's southern province of Binh Duong has attracted more than $400 million in foreign direct investment (FDI) after the signing of the Trans-Pacific Partnership (TPP) in February, the Vietnamese News Agency has reported.

Apart from the latest rush of FDI, current active projects in the country had already drawn billions of dollars of investments.

According to the provincial Department of Industry and Trade, most of new apparel projects focus on support industry and fabric material, a positive signal to support the domestic garment-textile industry.

Vice Chairwoman of the Binh Duong Garment-Textile Association Phan Le Diem Trang said domestic businesses have received numerous orders from traditional markets such as the US and Europe for 2016.

The advantages from free trade agreements (FTA) and TPP deal are forecast to bring more orders to domestic apparel enterprises, she said, adding that the increasing flow of FDI in Vietnam and Binh Duong in particular is a huge benefit, which helps increase the export proportion for Vietnam.

However, the TPP regulations on the origin of the products are posing a number of challenges for domestic investment enterprises.
Trang pointed to difficulties facing domestic firms such as lack of capital and human training which could push local businesses to work for companies pumping in FDI.

She also expressed concern over the provincial business community is still seeking connectivity in TPP integration while hundreds of FDI businesses have taken a quick step to dominate and benefit from business in Vietnam.

Garment-textile is currently one of the 26 key export industries in Binh Duong which has over 560 apparel firms. Since the beginning of 2016, the sector has exported over $550 million worth of goods, a year-on-year increase of 9 per cent. In 2015, the local export turnover surpassed $2 billion partly thanks to the garment sector. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Bangladesh panel to revise minimum wage for garment workers

Apparel/Garments | On 16th Jan 2018

Bangladesh panel to revise minimum wage for garment workers

The Bangladesh labour and employment ministry recently formed a panel ...

Bruckner to supply dry finishing lines for textile project

Textiles | On 16th Jan 2018

Bruckner to supply dry finishing lines for textile project

Bruckner, a producer of high-tech lines for the dry finishing of...

Courtesy: Carrefour

Apparel/Garments | On 16th Jan 2018

Carrefour signs strategic agreement with Showroomprive

Carrefour, the second largest retail chain in the world, has...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.8%
No
13.5%
Skip
17.7%

Total Votes: 96

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.5%
No
29.2%
Skip
7.3%

Total Votes: 96

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.5%
No
9.4%
Skip
3.1%

Total Votes: 96

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.3%
No
8.3%
Skip
9.4%

Total Votes: 96


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search