Wang Wen-yuan, chairman of Taiwan’s Chinese Nationwide Federation of Industries, stated Vietnam is an expenditure location Taiwan targets in its development method and it desires to invest in garment-textile, footwear and supporting industries.
The Hung Nghiep Formosa Dong Nai Textile Restricted Corporation, which was integrated in 2001 and has expenditure really worth $1.six billion, says Vietnam presents reasonably priced, expert labour and advantages from its FTAs, according to a Vietnamese media report.
Polytex Significantly Jap 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 to start with phase, and the overall registered expenditure is $760 million.
One more Taiwanese giant, Tainan Spinning Corporation Ltd., has increased its expenditure in its Long Thai Tu Spinning Manufacturing facility at the Long Khanh Industrial Zone in Dong Nai to $a hundred million.
Fibre2Fashion Information Desk (DS)
Taiwanese enterprises have been increasingly investing in Vietnam’s garment-textile and footwear industries in new years to take edge of the free of charge trade agreements that the latter has signed. They have been investing in the Southern Critical Financial Location, comprising HCM Metropolis and the provinces of Binh Duong and Dong Nai critical thanks to supporting industries.