Home / Knowledge / News / Textiles / TPP & FTAs spur FDI into Vietnamese textile sector
TPP & FTAs spur FDI into Vietnamese textile sector
03
Dec '12
In order to take advantage of tariff preferences available in Vietnam such as Trans-Pacific Partnership (TPP) and other Free-Trade Agreements (FTAs), several textile and garment manufacturers worldwide are investing in textile projects in Vietnam.

Last month, several textile enterprises including Chinese home textile manufacturer Sunrise Textile and Garment Company, fabric producer Texhong Textiles, Japanese textile firm Toray International as well as Australia’s Lenzing have approached Vietnam National Textile and Garment Group (Vinatex) for a joint venture to set up textile units in Vietnam, according to VietNamNet Bridge.

Sunrise Textile and Garment Company has signed an agreement with the Vietnamese company Thien Nam to produce US$ 24 million worth of woven fabrics. Similarly, Chinese-invested Textong textiles, which manufactures fibres in Vietnam, is planning to set up a third plant in the country in association with Vinatex.

Japanese Textile firm Toray International has approached Vinatex to develop a new garment material manufacturing project or to expand the existing project. Meanwhile, Australian company Lenzing has proposed setting up a project to make high quality viscose fibre and an integrated factory system to produce wood pulp.

The Trans-Pacific Strategic Economic Partnership Agreement (TPP) is a free trade deal that aims to further liberalize trade and investment as well as encourage cooperation to create a strategic partnership within the Asia Pacific region. The TPP member countries include Brunei, Chile, Singapore, New Zealand, United States, Australia, Peru, Vietnam, Malaysia, Mexico and Canada.

Vietnam National Textile and Garment Group (Vinatex) is one of the largest and the most competitive Textile and Garment corporations in Asia, which actively manages nearly 120 subsidiary companies in textile and garment sector.  

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 22nd Apr 2017

Strong rupee & weak trade to affect textile exporters

Textile and apparel exporters' earnings and EBITDA margins will be...

Textiles | On 22nd Apr 2017

Myntra acquires InLogg

With an aim to strengthen supply chain and logistics, Flipkart-owned...

Textiles | On 22nd Apr 2017

Aditya Birla Group launches new variant Liva Crème

After its successful launch of high quality fabric Liva in 2015,...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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