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

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

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Riddhi Jain

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

Abhishek Pachauri

Reckon Industries is into manufacturing of textile process house machines, ...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mark Paterson
Technical Absorbents Ltd

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

Kevin Nelson
TissueGen

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

Sonam & Paras Modi
SVA

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

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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