Garment-textile industry pins high hopes on FDI inflows

Vietnam has so far attracted 3,500 foreign direct investment (FDI) projects in the garment-textile industry with a combined value of 37 billion USD, according to the Vietnam Textile and Apparel Association (VITAS).

The FDI area plays a crucial role in the industry’s growth, accounting for 65% of its total export turnover. According to VITAS, Vietnam’s textile and garment industry is witnessing a strong surge in FDI inflows, with many large corporations pouring money into building modern factories.

The countries and territories investing big in Vietnam in this field include the Republic of Korea (RoK), China, Japan, India and Taiwan (China).

Vietnam is the third largest textile exporter in the world, after China and Bangladesh. Positive signals in 2024 show that the industry’s export turnover is likely to exceed the target of 44 billion USD this year.

Source: Vietnam News Agency

  • malaysiang

    Related Posts

    MIDA Connects Investors With Local Talent Through Innovative Pathways – CEO

    KUALA LUMPUR, The Malaysian Investment Development Authority (MIDA) is actively crafting innovative and strategic pathways, connecting investors and industry players with local talent to meet the ever-evolving demands of the industry.

    In an exclusive…

    Thai experts support sustainable community-based tourism development in Ben Tre

    The Thailand International Cooperation Agency (TICA), under the country’s Ministry of Foreign Affairs of Thailand, on October 15 officially handed over a project on sustainable coastal community development through ecotourism and the application of th…