News - Vietnamese government to encourage foreign enterprises to increase investment

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Home > News > Vietnamese government to encourage foreign enterprises to increase investment

Vietnamese government to encourage foreign enterprises to increase investment - 2013-10-15 09:37:48

From Asia Media "intellasia.ne" 10 reported on May 11 learned , Vietnam National Textile and Apparel Association (Vinatex) encourages its member companies to increase fiber cloth and fabric raw materials such investment.

Vietnamese Ministry of Trade and Industry statistics show that in the first nine months of 2013 , the textile and apparel industry exports 13.154 billion U.S. dollars , compared with same period last year increased by 18%. U.S. , EU, Japan and South Korea is Vietnam's textile and apparel major importing countries , which accounted for 49% of Vietnam 's total exports , 15% , 12% and 9%.

However, Vietnam's textile and garment enterprises have in raw material procurement and production of clothing other countries to compete , raw material suppliers, taking advantage of the shortage of raw materials on the occasion of the price raised from 10 to 15% , which will affect trade in Vietnam to win more apparel orders .

At present, Vietnam's textile and garment industry is very dependent on imported raw materials . Vietnamese domestic raw material supply can only meet 48 percent of demand , but only National Textile and Apparel Association (Vinatex) a member of the needs of enterprises reached 54%.

Trans-Pacific Partnership Agreement (TPP) signed in 2014 . TTP Vietnamese enterprises will enjoy preferential tariff agreement , then, the Vietnamese garment orders will grow , which means that in addition to manufacturing finished garment enterprises in Vietnam , but also produce more raw materials should own .

Vietnam National Textile Association encourages member companies as well as foreign direct investment enterprises (FDI), to increase the production of fabrics and textile fibers investment, to create a complete bill of materials supply chain.

The first half of this year , Vietnam launched a total of 46 large-scale projects , total investment of 6.144 trillion VND , after the completion of these projects will be used for the production of textiles materials most .

In order to enhance the localization of supply of raw materials, clothing , the Vietnamese government to encourage foreign investment in Vietnam, the production of clothing materials . TTP agreements signed with Vietnam , garment and textile raw materials industry will benefit greatly .

In addition to direct exports of textile raw materials to Vietnam , the Chinese textile raw materials companies can also ride the Vietnamese government to implement policies to encourage the machine, the production of textile raw materials, investment in Vietnam , in order to gain greater market space.

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