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Vietnamese textile attracts $750 mn FDI

Aug 03, 2017
Vietnamese textile attracts $750 mn FDI

The Vietnamese textile and apparel industry attracted more than $750 million in FDI in the first six months of 2017, mostly from investment capital increases in existing projects, despite a reduced number of FDI projects in recent years and the US withdrawal from the Trans-Pacific Partnership (TPP) last January.

The years 2014 and 2015 are considered the most successful for FDI in the country’s textile industry. But the number of FDI projects in this sector decreased considerably from the beginning of 2016. Except for the notable $220 million Chinese investment in a polyester synthetic fibre plant in the southern province of Tay Ninh, capital flows comprise mostly capital expansion investments in existing projects.

According to the Vietnam Textile and Apparel Association (VITAS), the southern provinces of Dong Nai and Binh Duong attracted the two projects with the largest investment capital increase in the textile industry in 2017.