Vietnam textile and garment attract FDI wave in 7 months of 2015. The textile and garment rank second position on attracting capital and foreign direct investment projects with more than 1.12 billion USD accounting more than 20% total capital.
Specifically, according to the Foreign Investment Agency (Ministry of Planning and Investment), the textile and garment account more than 1 billion USD in total investment capital of 5.85 billion US dollars in 7 months 2015, with 3 major projects of which are projects of fiber manufacturing and processing of Turkish investors in Dong Nai province with total investment up to US$ 660 million, the highest ever.
Next is project producing industrial products to support textile and garment sector in Binh Duong province, which has registered capital of 274 million USD of Far Eastern Polytex Ltd (Taiwan) and finally the fiber , Lu Thai colored cloth plan project has total investment of 160.8 million USD of Hong Kong investors in Tay Ninh province …
One of the reasons why Vietnam’s garment sector to attract FDI and capital number of major projects in recent years is the opportunity and strength of this sector are increasing.
Vietnam is participating playground of duty free with many countries worldwide, including 8 free trade agreements with most major countries like USA, Japan, Korea, EU … These are main textile and garment export market of Vietnam.
According to analysis from the Department of Trade Promotion, Ministry of Industry and Trade, textile and garment export turnover to the EU countries without FTA only reaches about US$ 300 million/year. But when the Vietnam-EU FTA takes effect, the turnover will grow about 50% in the first year and 20% in subsequent years.
Not to mention, if the TPP is adopted, textile and garment products of Vietnam exporting into the US, EU to reduce to 0%, then the competitive advantage is even greater.
It can say that, with a series of advantages gained from the free trade agreements that our country has joined, Vietnam is becoming a potential ground for foreign textile companies to invest.
Source: http://vietlaw4u.com/
Key words: Vietnam, textile and garment, attract, FDI wave
