Vietnam has so far attracted 3,500 foreign direct investment (FDI) projects in the garment-textile industry with a combined value of 37 billion USD, according to the Vietnam Textile and Apparel Association (VITAS).
The FDI area plays a crucial role in the industry’s growth, accounting for 65% of its total export turnover. According to VITAS, Vietnam’s textile and garment industry is witnessing a strong surge in FDI inflows, with many large corporations pouring money into building modern factories.
The countries and territories investing big in Vietnam in this field include the Republic of Korea (RoK), China, Japan, India and Taiwan (China).
Vietnam is the third largest textile exporter in the world, after China and Bangladesh. Positive signals in 2024 show that the industry’s export turnover is likely to exceed the target of 44 billion USD this year.
Source: Vietnam News Agency