Home / Knowledge / News / Textiles / FDI pours into Vietnam's Binh Duong province
FDI pours into Vietnam's Binh Duong province
22
Apr '16
The garment and textile sector in Vietnam's southern province of Binh Duong has attracted more than $400 million in foreign direct investment (FDI) after the signing of the Trans-Pacific Partnership (TPP) in February, the Vietnamese News Agency has reported.

Apart from the latest rush of FDI, current active projects in the country had already drawn billions of dollars of investments.

According to the provincial Department of Industry and Trade, most of new apparel projects focus on support industry and fabric material, a positive signal to support the domestic garment-textile industry.

Vice Chairwoman of the Binh Duong Garment-Textile Association Phan Le Diem Trang said domestic businesses have received numerous orders from traditional markets such as the US and Europe for 2016.

The advantages from free trade agreements (FTA) and TPP deal are forecast to bring more orders to domestic apparel enterprises, she said, adding that the increasing flow of FDI in Vietnam and Binh Duong in particular is a huge benefit, which helps increase the export proportion for Vietnam.

However, the TPP regulations on the origin of the products are posing a number of challenges for domestic investment enterprises.
Trang pointed to difficulties facing domestic firms such as lack of capital and human training which could push local businesses to work for companies pumping in FDI.

She also expressed concern over the provincial business community is still seeking connectivity in TPP integration while hundreds of FDI businesses have taken a quick step to dominate and benefit from business in Vietnam.

Garment-textile is currently one of the 26 key export industries in Binh Duong which has over 560 apparel firms. Since the beginning of 2016, the sector has exported over $550 million worth of goods, a year-on-year increase of 9 per cent. In 2015, the local export turnover surpassed $2 billion partly thanks to the garment sector. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

VF Corporation to split into two independent companies

Apparel/Garments | On 14th Aug 2018

VF Corporation to split into two independent companies

VF Corporation, a global leader in branded lifestyle apparel,...

Courtesy: Good On You

Apparel/Garments | On 14th Aug 2018

Good On You in Oz adds 500 European brands to rating app

Australia-based Good On You’s brand-rating app has recently added 500 ...

Courtesy: USDA/FAS

Textiles | On 14th Aug 2018

US cotton exports in 2017-18 highest in over a decade

Cotton exports from the US in 2017-18 reached their highest level...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Top executives
Fabric manufacturers

Domestic manufacturers would get an edge over imported products

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Kevin Nelson
TissueGen

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Bani Batra

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

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search