Korean investors have injected roughly 4.8 billion USD to 464 projects in the sector. It is followed by Taiwan with nearly 3 billion and 132 projects, Hong Kong (2.4 billion USD, 147 projects), China (2.1 billion USD, 197 projects), and British Virgin Islands (1.6 billion USD, 70 projects).

Foreign investors have poured 19.5 billion USD into Vietnam’s textile and garment industry over the last 30 years.

Major garment-textile producers from the RoK, Taiwan, Japan and other countries and territories have helped the domestic industry join in global supply chains and expand foreign markets, particularly the US and the EU, said Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (VITAS).

FDI firms have played an important part in boosting the sector’s production capacity and exports. Last year, Vietnam’s garment-textile exports grew by 16.1 percent from a year earlier to over 36 billion USD, 65 percent of which came from FDI companies.

The signing of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and Vietnam’s free trade agreements with the EU and Eurasian Economic Union (EAEU), which promise to cut taxes and further open market access to members, is exptected to pave the way for more FDI to land in the industry.

FDI should be prioritised in material producing projects to make Vietnam less dependent on imports.

Exports of garment-textile, leather shoes surge 10.5 percent

Vietnam’s export turnover of garment-textile and leather shoes during January-July grew 10.5 percent year-on-year to 18.34 billion USD, the Ministry of Industry and Trade (MoIT) said.

Textile and garment exports rise 8.91% in six months

The Vietnam’s textile and garment sector posted a total export revenue of over US$17.97 billion in the first six months of this year, an increase of 8.61% over the same period in 2018, heard a press conference held by the Vietnam Textile and Apparel Association (VITAS) in Hanoi.  

Garment-textile, fruit-vegetable exports surge

Vietnam’s total garment-textile export turnover was estimated at 14.5 billion USD in the first five months of 2019, a year-on-year rise of 9.11 percent.

Garment firm to seek opportunities in Canadian market

The Garment 10 Corporation and a number of member enterprises of the Vietnam Textile and Garment Group (Vinatex) will visit Canada to seek opportunities to export garment and textile products to the market.

Textile-garment exports aim for 40 billion USD

 

Source: VNA