Vietnam’s “Investment News” reported that major Taiwan-funded footwear groups have invested in Vietnam. Recently, Vietnam’s VAGABALLS Company, a subsidiary of Yuanchi Shoes Group, received an investment license from Quang Ninh Province and plans to build a 32,400-square-meter large-scale sporting goods processing factory in the Dong Mui Industrial Zone of the province. The first phase investment is 330 billion VND. It will be completed and completed in early 2017. Start operations.
In addition, Baocheng Group has dozens of subsidiaries in Vietnam that produce shoes and bags, with an annual export volume of US$1.5 billion. One of its subsidiaries in Dong Nai Province, Vietnam, currently employs 22,000 workers. Fengtai also has more than ten factories in Vietnam, with an annual turnover of US$500 million.
The Taiwan Shoe Manufacturers Association said that benefiting from the free trade agreement, the export volume of Vietnam’s shoe and bag industry will increase by 20% in the next few years.
