According to Vietnamese media reports, after the Trans-Pacific Cooperation Framework Agreement (TPP) is signed, goods produced in Vietnam will be able to enjoy duty-free sales to the United States, Japan and other places. Therefore, many foreign-funded companies are gearing up and preparing to do something here. Many cities in Vietnam are following this trend and planning to establish or expand textile and garment industrial parks.
For example, Ho Chi Minh City recently announced that it will open 6 industrial parks with a total area of more than 2,000 hectares for foreign investment.
In addition, southern provinces such as Long An and Dong Nai are also preparing to build industrial parks. Foreign investors hope that the government can release more land to build parks so that they can invest in building factories.
The person in charge of the Special Economic Zone Management Committee said that Long’an has received more than 100 foreign investment applications, mainly focusing on the fields of spinning, weaving, dyeing and finishing, and shoes.
The Minister of Planning and Investment of Vietnam predicts that the country will usher in a boom in investment in textile and clothing companies. He hopes that the development of industrial parks can stimulate local economic development, increase the utilization of local raw materials, and reduce Vietnam’s trade deficit. At the same time, it is also emphasized that when building industrial parks, attention should be paid to ensuring the environmental standards and technical specifications of enterprises in the area. In the post-TPP era, Vietnam is ushering in an investment boom