Once these projects are put into operations, they will help to partly solve a shortage in garment and textile accessories supply as well as meet rules of new-generation free trade agreements. Unlike the past when foreign investors in garment and textile sectors came to Vietnam for processing only, now, besides diversifying investment from direct and indirect investment via acquisitions and purchases of shares of domestic enterprises, most projects are focusing on investing in yarn, garment and accessories. Investment projects were spread at several provinces as infrastructure has been getting better and become more convenient with the scale of each project from tens of millions dollars to hundreds of millions dollars. Recently, Binh Duong Province granted permission for Korean company, Kyung Bang Vietnam, to expand its investment by an additional US$40 million with goal to raise its annual cotton yarn production capacity to 9,000 tons and blended yarn production capacity to 11,000 tons. The project aims to produce woven fabric, knitted fabric and crocheted fabric and complete woven products. With this amount of additional capital, the project of Kyung Bang Vietnam now has total investment of up to more than $219 million. Photo: SGGP At the same time, the Taiwanese Far… Read full this story
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