Feedback Here

fbook  tweeter  linkin YouTube
Global contents also translated in Chinese

Vietnam restricts licensing FDI projects in garment sector

In Vietnam, textile and garment projects would only be licensed if they are located in industrial zones and investors pledge to satisfy the norms waste water treatment, said an official of the Dong Nai provincial Planning and Investment Department in Vietnam. The country has become choosy about licensing foreign- projects. There is a growing tendency for rich provinces to say ‘no’ to projects in labor-intensive and low-value added industries like textiles and garments. While textile and garment projects are welcomed in Nam Dinh, they are being turned away in other provinces. Ba Ria–Vung Tau, Dong Nai and Binh Duong provinces in the south and Hai Duong province in the north have been restricting projects in the field.

Nam Dinh provincial authorities reported that the locality has licensed 32 textile and garment projects with foreign funding. Of the four Chinese-invested projects licensed recently, two are in textile and dyeing segment, registered by Thien Nam Sunrise and Yulun Vietnam. The other Chinese enterprises, Luenthai and Sanshui Jialida, teaming up with Vietnamese Vinatex, are moving ahead with a $400 million project on developing Rang Dong, an industrial park reserved for textile and garment companies.

Other provinces too are considering adding textile and garment to the list of conditional business fields. Hai Duong is the latest province to be ‘reconsidering’ textile and garment projects. The provincial authorities have decided to temporarily stop trying to attract FDI to six business fields, including textiles and garments.

 
LATEST TOP NEWS
 


 
MOST POPULAR NEWS
VF Logo