The Chairman of Vietnam Textile and Apparel Association, Vu Duc Gaing says, free trade agreements, particularly the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA), are attracting big investments in Vietnam’s garment-textile industry. Giang revealed that in the first six months of 2018, Vietnam attracted $2.8 of foreign direct investment (FDI) in garment-textile, bringing the total FDI in the sector to nearly $17.5 billion.

The country also witnessed the launching of several large-scale projects including a German-invested sheep wool yarn spinning plant in the Central Highlands city of Da Lat and an US-invested yarn production plant in the southern province of Dong Nai. Many Vietnamese firms also invested in material production projects. Besides, CPTPP and EVFTA have changed the structure of export markets of Vietnamese garment-textile products in recent years.