According to a report by “Vietnam News” (English version) on May 3: Currently, Vietnam is negotiating with relevant parties on important free trade agreements (FTAs), including the Trans-Pacific Partnership Agreement (TPP), the Vietnam-EU Free Trade Agreement Zone, Vietnam-Korea Free Trade Zone, 10+6 Free Trade Zone (RCEP), etc., many foreign companies have begun to invest a lot of money to occupy a favorable position in the competition for the huge business opportunities brought by FTA to Vietnam. Among them, the textile and clothing, food, animal husbandry, and energy industries have received greater attention.
Chen Guangzhong, president of Vietnam National Textile and Garment Group (Vinatex), said that textile and garment companies are always paying attention to the progress of the TPP that Vietnam participates in. There are already more than a dozen textile and garment companies from mainland China, Japan, South Korea, Austria and Taiwan. Printing and dyeing companies plan to set up factories in Vietnam. China Tianhong Textile Group has invested an additional US$300 million and will build a new factory in Quang Ninh Province in May; Jiangsu Yulun Textile Group Co., Ltd. has been issued a textile and printing and dyeing factory investment license of US$680 million and will build a new factory in Nam Dinh Province. Set up factory in Baoming Industrial Park. In Ho Chi Minh City, ForeverGlorious, a subsidiary of Taiwan’s Xue Changxing Group, promised to invest US$50 million to implement a project from fabric weaving to the production of garments for underwater sports; Mainland China’s Shenzhou International specializes in the production of trademark clothing such as Nike, Adidas, and Puma. GainLucky, a subsidiary of the group, has promised to invest US$140 million in clothing design and production.
In addition, agriculture and other fields will also attract large amounts of foreign investment. Last month, nearly 20 French companies visited Vietnam to seek investment opportunities in Vietnamese agricultural and animal husbandry machinery and technology applications. Nguyen Dang Vang, chairman of the Vietnam Livestock Association, said that French companies are actively seeking to invest in this untapped market with great potential. At the same time, Japanese companies are also seeking high-end technology investments. Sojitz Corporation plans to invest in four food, energy and electronic product industrial parks in Vietnam.
