Garment and Textile Attract Investors

 The foreign investment capital in the Vietnamese garment and textile industry, especially in the textile sector, increased sharply in 2006 with a series of new projects in central region and south-eastern region.

 

Notably, Phong Phu Textile Corp. signed an memorandum of understanding with the US-based ITG Group to invest US$80 million to develop a garment and textile complex in Hoa Khanh Industrial Park, Danang City and Indonesia’s Pamatexx Berhad also invested more than US$100 million to build a garment factory in Chu Lai Economic Zone, Quang Nam Province.

 

In the coming time, the Vietnamese garment and textile industry is expected to call more foreign investment capital for its production expansion and competitiveness enhancement in both domestic and export markets.