Textile & garment companies still attract foreign investors
Though growth in investment in the textile & garment sector has slowed down, it is still attractive in foreign investors’ eyes. The years 2014 and 2015 witnessed the massive landing of foreign textile & garment enterprises in Vietnam. In 2015 alone, $2 billion worth of foreign direct investment capital was poured into the textile & garment sector. The three biggest projects alone have registered capital of $1 billion. Hyosung Dong Nai, a Turkish invested yarn manufacturer, has investment capital of $660 million. Meanwhile, a textile & garment material factory developed by Polytex Far Eastern from Taiwan has registered capital of $274 million, and Worldon Vietnam, a Hong Kong invested enterprise, $160 million. However, the wave of FDI pouring into the textile & garment sector has reached a lull this year. According to the Foreign Investment Agency, the list of large FDI projects registered in the first five months of the year did not include textile & garment projects. Meanwhile, the projects capitalized at hundreds of millions of dollars were all in paper production, real estate, electronics and wind power.
