Taiwanese enterprises have been increasingly investing in Vietnam’s garment-textile and footwear industries in recent years to take advantage of the opportunities offered by free trade agreements (FTAs) that the latter has signed. Typically, they have been investing in the country's Southern Key Economic Region comprising Ho Chi Minh City and the provinces of Binh Duong and Dong Nai key due to market-related advantages and supporting industries.
Wang Wen-yuan, chairman of Taiwan’s Chinese National Federation of Industries, said Vietnam is an investment destination Taiwan targets in its development strategy and it wants to invest in garment-textile, footwear and supporting industries.Taiwanese enterprises have been increasingly investing in Vietnam's garment-textile and footwear industries in recent years to take advantage of the free trade agreements that the latter has signed. They have been investing in the Southern Key Economic Region, comprising HCM City and the provinces of Binh Duong and Dong Nai key due to supporting industries.#
The Hung Nghiep Formosa Dong Nai Textile Limited Company, which was incorporated in 2001 and has investment worth $1.6 billion, says Vietnam offers affordable, skilled labour and benefits from its FTAs, according to a Vietnamese media report.
Polytex Far Eastern Viet Nam has a plant to manufacture feedstock like cotton and polyester yarn in Binh Duong's Bau Bang Industrial Zone. Over $274 million has been invested in its first phase, and the total registered investment is $760 million.
Another Taiwanese giant, Tainan Spinning Company Ltd., has increased its investment in its Long Thai Tu Spinning Factory at the Long Khanh Industrial Zone in Dong Nai to $100 million.
Fibre2Fashion News Desk (DS)
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