Vietnam attractive for investment in chemical fibre sector
08 Aug '11
1 min read
Relevant survey reveals that Vietnam's low labor costs and abundant raw materials are suitable for labor-intensive garment industry.
However, as the Vietnamese chemical fibre industry is underdeveloped, it has to import fibre raw materials from abroad.
Regular supply of raw materials can be ensured, if foreign investors upgrade technological capabilities by building factories in Vietnam and realize integration with upstream and downstream sectors.
Production of man-made fibre in China has significantly increased in recent years, plus the tariff-free agreement signed between China and the ASEAN countries has put unprecedented pressure on Taiwan's textile sector.
So the Taiwanese industry has started shifting production to high-functional fabrics.
Taiwan's textile industry has already began to move toward upstream integration in Vietnam. Formosa Plastics Group invested US $750 million in 2005 in the establishment of the first petrochemical plant in Vietnam.
Tainan Textiles and Eclat Textile Co Ltd have cooperated in integration of upstream and downstream sectors.
The spinning, weaving, dyeing and finishing plants of Tainan Textiles and Eclat garment factory have integrated to form a persistent integrated effect, which can better protect supply of raw materials without fear.
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