Vietnam

Vietnam’s largest foreign investor is Hong Kong, according to the country’s Foreign Investment Agency (FIA), overtaking other countries like Japan, Singapore, and Taiwan. According to the FIA, the vast majority of Hong Kong investment has been in the textile sector. In 2014, Hong Kong companies invested over US$3 billion in 99 new projects and 23 existing projects and currently hold over US$15 billion in total capital in the country, ranking 6th of over 100 other countries that have invested in Vietnam. (Fibre2Fashion)

Garment industry leaders in Vietnam say that the country could achieve US$28 billion in exports this year. Experts say that the pending Trans-Pacific Partnership (TPP) along with other Free Trade Agreements (FTAs) will help propel Vietnam toward this goal. Last year, Vietnam sold over US$24 billion in garments and textiles, a 16% increase over 2013. (Yarns and Fibers)

The Vietnam National Textile and Garment Group (Vinatex) recently held its first shareholder’s meeting in Hanoi. During the meeting, a 7-member Board of Directors was appointed along with a Chairman and a CEO. Vinatex leaders announced their desire to move away from operating as a state corporation and toward running as a private company. They also emphasized that they are more interested in setting up for long-term success as opposed to short-term growth. Vinatex’s IPO was issued in September of last year. (Fibre2Fashion)