To ensure material for sustainable development, many textile and garment enterprises in Vietnam are investing in textile and dyeing complexes. And to avail themselves of business opportunities from the Trans-Pacific Partnership (TPP) agreement, many textile and garment firms have started building textile and dyeing complexes over the last two years. For instance, 10 enterprises have invested hundreds of millions of US dollars in those complexes in southern Binh Duong Province.

However, US President-elect Donald Trump said his country would leave the TPP but investment to those industrial complexes would still continue for long-term development strategies. Esquel Garment Manufacturing Vietnam has operated in Vietnam for 10 years and mainly imported material from China. In 2015, the company invested in a textile and dyeing factory in Binh Duong for availing business opportunities from the TPP. The factory has completed construction of the building in the first stage and it will begin operations in a year.

With information emerging that the US could leave the TPP, the company would carefully consider its investment plans for the factory in the second and third stages. However, Nguyen Van Luong, DG of Esquel Garment Manufacturing Vietnam said that the decision on investment was under the company’s long-term development strategy in Vietnam but not only for TPP.

Textile and garment enterprises said TPP has prompted them to increase investment in textile and dyeing for production of garment products. In the long-term, development of textile and dyeing would help Vietnam complete its production process for garment products and avoid dependence on material imports as being done at present.