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Hong Kong emerges as second biggest investor in Vietnam
13
Jan '15
According to the Vietnamese Foreign Investment Agency (FIA), Hong Kong has emerged as the second biggest investor in Vietnam in 2014 overtaking big investors like Japan, Singapore and Taiwan.

Most of the investments from Hong Kong have flowed in to the textile sector and property market, the Vietnamnet quoted the FIA as saying.

Till 15 December 2014, Hong Kong companies had invested a total of US$ 3 billion in 99 new projects and 23 existing projects in Vietnam in 2014.

Investments in the Vietnamese textile sector have either flowed in to setting up new projects or expanding existing facilities. These include Huafu's plans to invest $136 million in a project in Thuan Dao Industrial Park in Long An Province to produce 30,000 tons of yarn annually.

The Nam Phuong Textile Company has started construction of a $120 million textile project at Viet Huong 2's Industrial Park in the Binh Duong Province.

Hong Kong investors are operating 869 projects in Vietnam, with a total registered capital of $15.46 billion, ranking sixth among 101 countries and territories with investments in the country.

The investment by a Hong Kong investor in Vietnam averages $17.8 million as against an average ticket size of $14.3 million of overall foreign investments. (AR)

Fibre2fashion News Desk - India

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