Foreign investment increases in textile-garment projects

According to the Vietnam Cotton Fiber Association, by 2030, garment production worldwide will expand to twice its size, with Asia contributing to 60% of total production. Vietnam is expected to be an attractive destination for foreign textile investors, because of its competitive labor, stable political situation, and favorable business environment. Several companies from China, Hong Kong, Taiwan, Japan, the United States and South Korea have made large investments in the sector since the beginning of 2014.