Vietnam’s Sacombank recently signed an agreement with the Vietnam Textile and Apparel Association (VITAS) to support the latter’s activities to boost the textile and garment sector.
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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.
Vietnam’s garment and textile export in the first nine months this year posted the lowest growth rate for the last ten years, reported Vietnam Textile and Apparel Association (Vitas). The down growth rate has been caused by import reduction from some major markets of Vietnam where have met with economic difficulties and the Britain’s exit from the EU.