Home / Knowledge / News / Textiles / FDI continues to flow into Vietnam textile sector
FDI continues to flow into Vietnam textile sector
20
Jul '15
Vietnam’s textile and garment sector continues to be a magnet for FDI. While FDI in Vietnam has fallen significantly in the first six months of 2015, it rose sharply in the textile and garment sector, according to the country’s newspapers.

Several domestic and foreign-invested cotton projects are rushing to begin operating in anticipation of competing across borders after Free Trade Agreements (FTAs) go into effect.

At least $1.12 billion out of the $5.58 billion worth of capital inflows went into the textile sector. One of the three largest projects was capitalised at $660 million, the highest ever in the field.

The $660 million project, in a yarn factory in Dong Nai province, was registered by an investor from Turkey. Among others is a $300 million project registered by a British investor in Ho Chi Min City and a $160 million project in Tay Ninh province by a Hong Kong investor.

Prior to that, Vietnam licensed three large projects to investors from China, including $400 million textile and garment complex in Nam Dinh province, $300 million in Quang Ninh province and $200 million in Hai Duong.

Smaller projects are capitalised at tens of millions of dollars. Forever Glorious, a subsidiary of Sheico Group from Taiwan, has committed to invest $50 million in a project to make underwater sportswear.

Gain Lucky Limited belonging to Shenzhou International plans to invest $140 million to develop a fashion design and high-end product development centre.

According to the Vietnam Textile and Apparel Association (Vinatas), once Vietnam officially joins TPP, it would enjoy a zero percent tariff when exporting textile and garment to the US instead of 17-30 per cent tariff.

The biggest problem of Vietnam’s textile and garment industry now is the heavy reliance on imported materials. A report showed it needs to import 50 per cent of input materials to make finished products, mostly from China.

According to the TPP framework, only the products using input materials from TPP member countries will be able to enjoy the preferential tariff of zero percent. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Mikes Photos from Pexels

Apparel/Garments | On 17th Oct 2018

Bangladesh garment exports swell 14.66% in Q1 FY19

Readymade garment exports from Bangladesh increased by 14.66 per cent ...

Courtesy: Sourcemap

Apparel/Garments | On 17th Oct 2018

Sourcemap launches 1st free digital map of apparel units

New York-based software company Sourcemap recently launched the Open...

US apparel industry is already highly tariffed: AAFA

Apparel/Garments | On 17th Oct 2018

US apparel industry is already highly tariffed: AAFA

The American apparel and footwear industry is highly tariffed, as per ...

Interviews View All

Milind Khandwe, Hindoostan Innovation Centre

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Sonia Agarwal, Whitenife

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Neel Sawhney, One Friday

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Ravindra Jain, Ashish Baid,

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Gagan Gulati,

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

Riddhi Jain,

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Ashok Desai, Bombay Textile Research Association

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

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

Johan Berlin, InvestKonsult Sweden AB

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

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

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

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

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


October 2018

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

news category


Related Categories:

Advanced Search