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Domestic textile sector on a persistent expansion
25
Mar '08
After joining WTO as a member, Vietnam has found itself in an advantageous position, more so, because there is no quota limit for accessing American market.

Besides, the textile and clothing industry of Vietnam has also got a similar access to other markets in member countries.

Additionally, the infrastructural facilities of the textile and clothing sector has got a considerable boost attracting a large number of foreign investors to the country.

Statistics from Vietnam show that in the period ranging from January 2006 to September 2006, China inked about 36 investment projects with the country doling out some US $58.48 million.

China stood at 12th rank among the top most investors and so far it has over 200 clothes processing enterprises in Vietnam. This has immensely helped China in expanding its textile industry and export growth.

Although the entry of Chinese textile enterprises has brought a number of fortunes to the country, it is also going to have a negative impact on Vietnam's textile industry.

Fibre2fashion News Desk - China


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