Newly-registered projects include major projects in the garment and textile sector and include a fibre production plant, and a 1.2 billion dollar high quality garment production facility in Ho Chi Minh City.
Foreign investors are looking at Vietnam as it nears completion of free trade agreements with the EU, the Eurasian Economic Union and South Korea. These trade agreements are expected to bring benefits to the garment and textile industry with the elimination of tax barriers. In addition, many global garment producers have moved their factories from China to take advantage of the lower labour costs and preferential tax conditions in Vietnam.