According to Vietnam’s “Economic Times” report on July 15, the Vietnam Foreign Investment Authority stated that Vietnam’s new large-scale foreign investment projects from January to June this year were mainly concentrated in the textile field, with a total contract value of approximately US$1.4 billion, accounting for 10% of the total foreign investment in the same period. 32.6%. The main projects include: projects invested by South Korea Hyosung Co., Ltd. (Hyosung) (contract value 660 million U.S. dollars, the same below), projects invested by Hong Kong Worldon Co., Ltd. ($300 million); Hong Kong (Vietnam) Lu Thai Company (1.61 billion U.S. dollars) billion), the first phase project of Taiwan Far Eastern Group (Polytex Far Eastern) (USD 274 million), and the second phase project plans to increase investment by US$700 million.
According to reports, in recent years, foreign businessmen have concentrated investment in Vietnam’s textile field, which is closely related to the Trans-Pacific Partnership Agreement (TPP) under negotiation. After the TPP comes into effect, according to the “yarnforward” rules of origin, if Vietnamese textile export companies want to enjoy TPP tariff preferences, their raw and auxiliary materials must come from Vietnam or other TPP members. At present, Vietnam’s textile raw materials and auxiliary materials are mainly imported from China, Taiwan and South Korea, and these countries and regions are not members of the TPP. To this end, textile companies in China, Taiwan and South Korea have successively transferred production capacity to Vietnam for localized production.
According to the report, what is worrying is whether these foreign-funded enterprises can fulfill their commitments to use advanced technology; can they treat sewage and solid waste as required; can they use labor according to the contract? In addition, the industries in which these textile projects are located Does the park, especially the industrial park where the printing and dyeing project is located, have modern supporting facilities and can it handle sewage and solid waste? In the first half of the year, Vietnam’s new large-scale foreign investment projects were mainly concentrated in the textile field