Foreign textile and garment companies are now eyeing Vietnam as an investment destination, according to the Vietnam Textile and Apparel Association (Vitas).

Recently, Malaysia’s Pamatex Berhad was licensed to set up a textile, dyeing, and garment plant in the Chu Lai Open Economic Zone in the central province of Quang Nam with the total investment capital of $100mil.

Meanwhile, Daewon, one of the leading companies in the Republic of Korea in garments and textiles, has also decided to pour 8 million USD into a garment factory for exports in the Hoa Khanh Industrial Zone in the central city of Da Nang. The group has already built two garment plants in the Vinh Loc IZ in Ho Chi Minh City and Nhon Trach IZ 1 in the southern province of Dong Nai.

Moreover, Formosa Group of Taiwan invested more than US$500 million in the Nhon Trach IZ a few years ago. It is planning to pour nearly US$400 million into Vietnam in the coming years to expand its production scale.

Source: Tuoitre

Translated by Vu Hung