Vietnam Textile and Apparel Association (VTAA) recently mentioned that over 2,000 companies from 16 countries and territories have invested around $15.75 trillion in Vietnam’s garment and textile sector so far. Out of these, South Korea emerged the biggest investor with investments exceeding $4.4 billion, followed by Taiwan whose investment is worth $2.5 billion. Hong Kong invested $2.1 billion while Japan’s investment is worth $789 million.
Low labour costs and free trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), are attracting foreign investors to the Vietnamese garment and textile sector. Earlier this year, Japan’s ITOCHU Corporation purchased additional 10 per cent shares of Vietnam National Textile and Garment Group (Vinatex) by investing $47 million, raising its stake to 15 per cent and making it the second-largest stakeholder after the Vietnamese industry and trade ministry.
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