According to a report by Vietnam’s “Youth Daily” on August 19, due to Vietnam’s limited investment capacity and domestic supply shortage, Vietnam currently needs 8.45 billion square meters of textile raw materials annually, of which 6.5 billion square meters are imported. However, as Vietnam signed a series of free trade agreements and joined the TPP, many foreign-funded enterprises have continued to increase investment in Vietnam’s spinning, printing and dyeing field in the past two years, with new foreign investment amounting to nearly US$6 billion. Among them, the countries and regions with the largest investments are : China, Taiwan, Hong Kong SAR, South Korea.
Vietnamese experts pointed out with concern that according to this trend, if there is no strict inspection and supervision of environmental protection issues, although Vietnam can increase its supply capacity of raw materials and auxiliary materials in the future, it will pay a price in terms of environmental protection. Investing in Vietnam’s printing and dyeing industry must pay special attention to environmental protection
