Foreign Investment In Vietnam'S Textile And Garment Industry Strives To Enjoy TPP'S Niche

< p > Vietnam has attracted many foreign businessmen to invest in textile and garment production from this (2014) year so as to win Vietnam's future preferential participation in the export of Pan Pacific partners (TPP), the European Union free trade (FTA) and the Russian customs union agreement. Among them, Vietnam Longan River approved the Hong Kong businessmen Huafa in the middle of April of this year, and proposed to set up the investment letter of intent for printing and < a href= "//www.sjfzxm.com/news/index_c.asp" > spinning plant < /a > in the industrial park of Qin De county in the province, with an investment amount of about 136 million dollars.

Another South Korean Kyungbang company, which has invested in the production of Cotton (Bau Bang) in Pingyang, Vietnam, has announced its second phase of capital increase plan (first investment of US $40 million), and the canal will invest 54 million 200 thousand US dollars to expand the plant.

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< p > < a href= > //www.sjfzxm.com/news/index_c.asp > > Hu Zhiming < /a > the government also issued an investment license in February of this year to Forever Glorious company, which is stationed in the Taiwan Industrial Park of Taiwan under the jurisdiction of the southeast industrial area of gzhi county. It invested 50 million US dollars to engage in production operations from weaving to clothing (mainly for underwater sports special clothes).

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< p > another Chinese mainland business Shenzhou International group has also obtained the Hu Zhiming municipal government investment license to set up fashionable clothes and set up the center and produce advanced garments products, with an investment amount of US $140 million.

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< p > > in addition to "a href=" //www.sjfzxm.com/news/index_c.asp "Vietnam" < /a > northern part of Nam Dinh Province, China has also absorbed the Yulun textile and Garment Group of Jiangsu, China, and has invested in the production of yarn, textile and dyeing and finishing production plants in this province. The investment amount is USD 68 million, and the Texhong group of Hong Kong has also held its fourth investment and production yarn factory in Vietnam, Guangning, and invested 300 million US dollars.

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< p > according to Wen Jun, vice president of Vietnam cotton and yarn Industry Association (VCOSA) and Secretary General of Vietnam textile and Garment Association, once Vietnam signs TPP, Vietnam and EU FTA and the customs union agreement with Russia, Vietnam's tariff rate on export textile products will be greatly reduced. It is estimated that more foreign businessmen will enter Vietnam to invest in the production of yarn, textile, dyeing and finishing and export textiles in the future, so as to comply with the standard of origin of preferential tariff for textile products in accordance with TPP standard.

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According to the Vietnamese government statistics, Vietnam's foreign-funded enterprises exported more than 25 billion 600 million US dollars in the first quarter of this year, accounting for more than 50% of the total export volume of Vietnam's textile products in the first quarter.

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