2019 yet again turned out to be a good year for Vietnam’s textile, fibre and dyeing projects.
The projects, as per media reports, received more than impressive foreign direct investment (FDI) inflow in the first 11 months of 2019.
The total FDI into Vietnam’s apparel and textile sector clocked US $ 1.54 billion across 184 projects, with Hong Kong being the leader (US $ 447 million).
Singapore, China and the Republic of Korea occupied the second, third and fourth spots with investments of US $ 370 million, US $ 270 million and US $ 165 million, respectively.
Japan too seems to be growing its interests in Vietnam. It’s not just about the opening of Uniqlo store in Ho Chi Minh City last year, the country also invested US $ 61 million in Vietnam’s apparel and textile sector during the said period.
Consequently, several projects are taking shape fast! 90 textile projects worth US $ 1.24 billion, 24 dyeing projects at US $ 673 million and 45 fibre projects at US $ 640.4 million to name a few.