Over The Past 30 Years, Foreign Investment In Vietnam'S Textile Industry Has Reached 19 Billion 500 Million. Korean Goods Rank First, So Where Will The Next Textile Center Be?

According to Yue Tong news agency, over the past 30 years, foreign investment in Vietnam's textile and garment industry and washing and dyeing industry has reached about US $19 billion 500 million. Among them, investment funds from South Korea amounted to 4 billion 798 million US dollars, ranking first.

In recent years, the export capacity of Vietnam's textile and garment industry has increased rapidly, and foreign investment in this field has made important contributions.

According to statistics from the Foreign Investment Bureau of the Ministry of investment, the textile and garment industry attracts foreign investment to 19 billion 286 million US dollars. Although there are a large number of countries and regions in Vietnam's textile and garment industry and dyeing and finishing industry, there are only 5 countries and regions with an investment of more than US $1 billion, namely Korea, Taiwan and Hongkong, China and the British Virgin Islands.

Among them, South Korea has 464 investment projects, with a registered capital of 4 billion 798 million dollars. 。 Taiwan has 132 investment projects, and its investment funds amount to nearly US $3 billion. Hongkong has 147 investment projects with a total investment of US $2 billion 395 million. China has invested 197 projects and invested 2 billion 116 million US dollars. There are 70 investment projects in the British Virgin Islands with a total investment of US $1 billion 607 million.

Besides, Singapore, Samoa, Turkey, Japan, Seychelles and the United Kingdom and other countries invest in Vietnam's textile and garment industry from around 350 million to 850 million dollars.

The chairman of the Vietnam textile and Garment Association, Wu De Jiang, said that the industry's current export capability is based on foreign capital from various countries. Large groups from South Korea, Taiwan and Japan have helped Vietnam's textile and garment industry integrate into the global supply chain and create a positive image of developing the market, greatly changing the export structure.

In 2018, Vietnam's textile and garment exports amounted to US $36 billion, up 16.1% over the same period last year, of which foreign capital accounted for 65% of total exports.

Although Vietnam is a hot spot for investment in Southeast Asia, we still need to pay attention to controlling investment risks.

I have to admit that South Korea has a keen sense of smell in the transfer of textile industry. Previously:

According to the evaluation, the implementation of the trans Pacific Partnership comprehensive progress agreement has brought many opportunities for Vietnam's textile and footwear industry to develop. Therefore, in order to seize these opportunities, Korean enterprises are increasing investment in these two fields.

　　 At the end of February this year, South Korea's Changxin (Vietnam) limited liability company started construction of shoe factories in Xinfu Industrial Park, Nai Province, Vietnam. The total investment of the project is 100 million US dollars, covering an area of 14.3 hectares, with an annual output of about 27000000 pairs of shoes.

According to investors, the construction project of Tung Nai shoemaking plant is expected to be completed in 2020 and will provide 12 thousand jobs after commissioning.

Prior to this, South Korea's Changxin (Vietnam) limited liability company has built two factories in the Sheng Fu Industrial Park. In September 2013, the company also invested $4 million in the construction of shoe sole spray manufacturers, with 67500 pairs of Nissan shoes.

South Korea's Changxin (Vietnam) limited liability company has invested in two provinces since its investment in Nai Province in 1995. It has 32 thousand employees and exports more than $500 million a year.

At the beginning of this year, Pingyang also issued investment licences to the expansion project of Kyung Bang (Vietnam) Co., Ltd., adding 40 million US dollars to increase the annual output of cotton yarn and the annual production of blended yarn to 9000 tons and 11 thousand tons respectively. After the capital increase, the total investment registered by Kyung Bang (Vietnam) Co., Ltd. in Pingyang province exceeded 219 million US dollars.

According to data from key economic zones in South Vietnam, South Korea is one of the largest sources of foreign direct investment in the region.

Specifically, in 2018, South Korea became the largest source of investment in tnye, with 40 investment projects and a total investment of more than US $234 million. In Pingyang Province, Korea registered more than $302 million in total investment, and South Korea has become the second largest source of investment in the province.

Korean enterprises mainly invest in industrial fields such as footwear, fiber, textile, cloth, electronics, electronic components, machinery and equipment. In the future, Korean enterprises are expected to invest in auxiliary industries.

South Korea's deputy consul general Hu Zhiming Chung held a working conference with the leaders of Nai Province, and revealed that many Korean enterprises invested in Nai province have achieved relatively high economic benefits. Therefore, they plan to continue to expand their investment in other industries such as industry, infrastructure and trade in services in the province of Minchul.

Ruan Qingzhu, director of the Pingyang provincial planning investment office, revealed that by the end of 2018, Korean enterprises had invested 600 projects in the province, with a total investment of more than 2 billion 700 million US dollars. Most South Korean enterprises carry out investment activities efficiently in Pingyang province. After a recent inspection and investment promotion activities, Korean enterprises' investment funds in the province are expected to continue to rise.

Will the next textile industry center transfer to Africa?

Are you ready again?