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

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Eamonn Tighe
Nature Works LLC

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

Igor Chapurin
Chapurin

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
February 2017

February 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