Home / Knowledge / News / Textiles / Textile enterprises plan to move out of Vietnam
Textile enterprises plan to move out of Vietnam
26
Jun '08
A large number of Taiwan funded textile enterprises that had shifted their production base from China to Vietnam are hit by the current inflation, devaluation of currency and strikes in the country.

The critical situations in Vietnam have forced most of these enterprises to lay-off workers and make cuts in production. In fact, they are even considering making another shift of their production base to countries like Indonesia, India, Cambodia, Bangladesh and other countries which offer more lucrative investment opportunities.

While the salary per worker was pegged at US $80 per month a year ago, it has now risen to $150. In order to absorb such massive rise in cost of production, enterprises have actually had to reduce their operation by 40 percent; moreover, they also had to complete their pending orders in Chinese and Indonesian factories.

Recently, even the Federation of Hong Kong Industries expressed the desire to visit Indonesia, India and Cambodia with a view to make investments in these countries.

The business association of Taiwan in Dongguan city, Guangdong Province also had similar intentions and divulged that India is most likely to be the next investment region for the country.

Fibre2fashion News Desk - China

Must ReadView All

Textiles | On 24th Apr 2017

India, Kazakhstan to increase cooperation in textiles

Indian and Kazakhstan are deliberating upon increasing cooperation in ...

Textiles | On 24th Apr 2017

Indian GDP to grow at 7.5% this fiscal: Arun Jaitley

The GDP of India will grow at the rate of 7.5 per cent in 2017-18 as...

Textiles | On 24th Apr 2017

US’ textile manufacturers applaud Buy American order

US' National Council of Textile Organisations has favoured President...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Steve Cole
Xerium Technologies

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

Bani Batra

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

Karan Arora
Karan Arora

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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