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Vietnam's textile and garment industry is witnessing a wave of new investment
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Vietnam's textile and garment industry is witnessing a wave of new investment

At present, there are about 3,500 foreign direct investment (FDI) projects in Vietnam's textile sector, with a cumulative investment capital of $37 billion.



In recent years, Vietnam's textile and garment industry has welcomed many foreign direct investment (FDI) projects. With the production of modern factories built by many large companies and large-scale projects, the level of Vietnam's textile and garment industry is expected to improve.



Singapore SANBANG CO., Ltd recently held a ground-breaking ceremony for its towel, fabric and DTY yarn factory at the Lai Ming (Rpa Nongdong) Textile and Garment Industrial Park in Yixing County, Nam Dinh Province. This is SANBANG's first plant in Vietnam, with a total investment of VND 673.5 billion (nearly $30 million).



In addition, some large-scale projects are also being implemented in Vietnam, such as Japan's TORAY Group's Top Textile Co., Ltd. opened a textile printing and dyeing plant in the Lai Ming Textile Industrial Park in Nam Thanh province, with a total investment of 203 million US dollars.



Vietnam's ReGal Textile Co LTD started construction at the end of September in Hoh Phu Industrial Park in Bangmei Thu City, Tholak province, covering an area of nearly 3 hectares, with an investment of 20 million US dollars from Hong Kong, China. When the company goes into operation, it will create jobs for 800 workers. Ding Feng, the company's general manager, said the province was rich in labor, so the company decided to invest in the factory there.



At present, there are about 3,500 foreign direct investment projects in Vietnam's textile sector, with a cumulative investment capital of 37 billion US dollars. Fdi companies are playing an important role, with exports accounting for about 65 per cent of the sector.

 

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