The growth rate of foreign investment in Vietnam’s textile industry has slowed down
According to a report by Vietnam’s “Investment News” on June 27, data from Vietnam’s Ministry of Planning and Investment showed that Vietnam’s textile industry attracted approximately US$500 million in foreign investment from January to May 2016. Foreign-invested projects with an investment amount of more than US$100 million in the first five months were mainly in the fields of papermaking, real estate, electronic parts, and wind power generation. The scale of textile industry projects decreased compared with the previous year. In 2015, most of the foreign investment projects in Vietnam’s textile industry were full-industry chain investment projects including spinning, weaving and dyeing, and finished product exports. Among them, there were three projects with a scale of more than 100 million US dollars, namely the Hyosung project in Turkey, the Polytex Far East project in Taiwan, The Hong Kong Worldon project has an investment scale of US$660 million, US$270 million, and US$160 million respectively.
The Vietnam Textile Association pointed out that although the current growth rate of foreign investment in the textile industry is slowing down, the industry is expected to remain a key area of foreign investment by 2018. Some provinces and cities, such as Da Nang and Vung Tau, have gradually restricted the approval of printing and dyeing projects with backward technologies that cause pollution. The growth rate of foreign investment in Vietnam’s textile industry has slowed down
AAA
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