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Garments bag most new investments in Ho Chi Minh City
16 Jul '14
1 min read
Ho Chi Minh City, the largest city in Vietnam, remained attractive for new investments in the garment and textile sector, and it received 70.62 percent of the total investment made in the city’s industrial zones in the first six months of 2014, reports Vietnam Plus.
The new investment in the clothing and textile sector includes capital inflow from both domestic and foreign companies.
The apparel and textile sector bagged nearly $200 million or 82.44 percent of the total foreign investment made in the first half of this year, according to the HCM City Export Processing and Industrial Zone Authority (Hepza).
Vietnam is one of the 12 countries currently negotiating a Trans-Pacific Partnership (TPP) agreement, which is expected to spur more investment in the country’s textile and garment sector.
To support the trend of increasing investment in the textile and apparel sector, Hepza will continue speeding up the establishment of new supporting industrial zones, according to the report.
Further, Hepze would also organize a Japan-Vietnam forum aimed at attracting investment from Japanese small and medium enterprises.
Fibre2fashion News Desk - India
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