Home / Knowledge / News / Textiles / Vietnamese textile sector attracts investment in 2013
Vietnamese textile sector attracts investment in 2013
16
Jan '14
Vietnamese provinces of Dong Nai, Binh Duong and Quang Ninh have attracted investment in the textile and garment sector during 2013, believed to be in anticipation of the proposed Trans-Pacific Partnership (TPP) agreement covering 12 countries—Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US, and Vietnam.
 
A US$ 40 million textile unit having 25,900 spindles for producing cotton yarn was inaugurated in the country’s southern province of Binh Duong in May 2013.  South Korean textile and garment manufacturer KyungBang has invested in this textile unit.
 
In June 2013, another South Korean firm Hyosung, the world’s largest spandex producer, announced its decision to expand its Creora brand spandex production facility in Dong Nai, another province in southern Vietnam.
 
The northeastern province of Quang Ninh also attracted investment from foreign textile and garment firms. Hong Kong’s Black Peony announced construction of a $100 million denim factory at Hai Yen Industrial Park.
 
Meanwhile, TAL Hong Kong Development Company has shown interest in investing another $200 in building a garment factory in Dong Mai Industrial Park in Quang Ninh province. The new investment would be in addition to the $40 million textile and garment factory set up in 2004.
 
China’s Texhong Group began operating its $200 million fabric plant in the province in July 2013. The company also started building its $400 million second phase of the plant with an aim to make it operational in 2014.
 
In 2013, Vietnam’s textile and clothing exports were valued at $17.9 billion, registering a growth of 18.6 percent year-on-year, according to the data from the General Statistics Office. Over 50 percent of Vietnam’s textile and apparel exports are destined to the US, one of the countries negotiating the TPP.
 

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Walmart

Apparel/Garments | On 23rd Mar 2017

Walmart acquires ModCloth

Walmart has acquired the assets and operations of ModCloth, one of...

Textiles | On 23rd Mar 2017

SIMA advises mills to avoid panic buying of cotton

The Southern India Mills' Association (SIMA) is advising mills to...

Apparel/Garments | On 23rd Mar 2017

Tulip Retail, True Fit personalise in-store shopping

Tulip Retail, a mobile application platform built exclusively for...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Dharmendra Shah
Ozone PB Spintex Limited

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

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

news category


Related Categories:
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search