China may increase its investments in textiles and garments in Vietnam Vietnamese textile and garment companies have warned that they would have more redoubtable rivals as
A senior executive of Vinatex, the biggest Vietnamese textile and garment group, said China is always very “nimble-footed” in seeking investment opportunities. Meanwhile, they might have heard that More Chinese projects to be registered in 2013 The senior executive of Vinatex has predicted that the new Chinese investment wave would be mostly seen in the garment sector, while there would be fewer projects in the textile and dying sectors. This would put Vietnamese enterprises in a stiffer competition once the TPP implementation begins. This is really the bad news for Vietnamese garment companies which have weak competitiveness because they have been relying by nearly 100 percent on the material imports from Vinatex has been following a strategy on developing the textile and garment industry by 2015, which aims to strengthen the group’s capability and improve the competitiveness to prepare for the TPP. Also according to the executive, some Chinese enterprises have sent words intimating that they want to cooperate with Vinatex in the textile and dying sectors. Nevertheless, it’s very difficult to develop the projects in the fields, because such projects which may cause the environment pollution, are not welcomed by local authorities. To date, no cooperation project between Vinatex and Chinese investors has come true. In fact, Meanwhile, the South China Morning Post, in an article published in late May 2013, quoted Hong Tianzhu, President of Texhong Textile as saying that the group plans to expand its investment to The Chinese businessman said that He went on to say that since Also according to South China Morning Post, Pacific Textiles is also considering setting up a joint venture worth $180 million in In 2012, some Chinese and Hong Kong’s dying and textile projects were kicked off in A According to the General Department of Customs, in the first four months of 2013, Source: TBKTSG |
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