Vietnam has attracted 3,500 overseas direct funding (FDI) garment-textile initiatives until now with a mixed worth of $37 billion, in response to the Vietnam Textile and Attire Affiliation (VITAS).
FDI accounts for 65 per cent of the garment-textile trade’s export turnover.
VITAS mentioned many giant companies from China, Japan, India, South Korea and Taiwan are investing in constructing trendy factories within the nation.
Vietnam has attracted 3,500 FDI garment-textile initiatives until now with a mixed worth of $37 billion, in response to the Vietnam Textile and Attire Affiliation (VITAS).
It mentioned that many giant companies from China, Japan, India, South Korea and Taiwan are investing in constructing trendy factories within the nation.
FDI accounts for 65 per cent of the sector’s export turnover.
Singapore’s Sanbang Co Ltd started development of a plant for towels, materials, DTY yarn at Rang Dong Textile Business Park within the northern province of Nam Dinh in late September with a complete funding of 673.5 billion VND ($30 million). The plant is anticipated to change into operational within the fourth quarter subsequent yr.
Many different main initiatives are beneath manner. These embrace a $203-million textile dyeing manufacturing facility by Prime Textiles Co Ltd of Japan’s Toray Group on the park, a home media outlet reported.
An funding license was granted in February this yr to Hong Kong’s Crystal Worldwide Restricted Group to modernise the Yi Da Denim Mill Co Ltd with a complete funding of almost 1.47 trillion VND ($60 million).
SAB Industrial (Vietnam) Firm Restricted of the Weixing Group inaugurated a $6-million plant producing clothes equipment within the Bim Son Business Park within the northern central province of Thanh Hoa in March.
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