Vietnam'S Textile And Garment Industry Attracts Investment From All Over To Actively Join TPP Agreement.

It is reported that at present, Vietnam

The clothing industry is attracting investment from all over the world, and all countries are scrambling to build textiles in Vietnam.

Production base.

Despite the sharp decline in foreign investment in Vietnam in the first half of 2015, investment in textiles and clothing increased significantly.

It is understood that in the total foreign investment of 5 billion 580 million US dollars, the textile industry's investment amounted to US $1 billion 120 million.

With the implementation of the p regional free trade agreement, several domestic and foreign investors will be launched.

The project will be put into operation soon.

It is understood that in the three largest foreign investment projects,

The investment projects amounted to US $660 million, creating a new high level of foreign investment in the field. The other two are the UK ($300 million) and the Hongkong region of China (US $160 million).

Previously, Vietnam has approved the textile industry investment of three Chinese funded enterprises, with investment amounts of US $400 million, US $300 million and US $200 million respectively.

ForeverGlorious, a subsidiary of Sheico group in Taiwan, China, plans to build a factory for 50 million dollars for the production of premium swimwear. The GainLucky Limited company of China Shenzhou International Group Holdings Ltd will invest $140 million to set up a senior fashion design and production center.

It is reported that Ruan Fuzhong, general secretary of the Communist Party of Vietnam, held an in-depth conversation with President Obama during his visit to the US in the middle of July to join the TPP agreement.

In 2014, the bilateral trade volume between us and Vietnam amounted to US $36 billion, and the proportion of textiles and clothing was very high. The United States was the seventh largest investor in Vietnam.

Vietnam textile and Apparel Association said that once Vietnam formally joined

Vietnam's tariffs on textiles and clothing exported to the United States will be reduced to zero while the current tariff is 17-30%.

At present, the biggest problem of Vietnam's textile and garment industry is that raw materials are heavily dependent on imports. It is reported that 50% of Vietnam's production materials need to be imported, and most of them come from China. According to the framework of the TPP agreement, only the raw materials of TPP member countries can enjoy zero tariff.