VIETNAM: Apparel firms invest $200m in production facilities
Two investment licenses have been granted by the Ho Chi Minh city Export Processing and Industrial Zones Authority that will lead to the construction of two apparel complexes worth nearly $200m.
The investments are thought to be spurred by duty-free opportunities that would eventually be offered from the proposed Trans-Pacific Partnership (TPP) trade treaty with countries including Canada and the US.
The first will see Gain Lucky Limited, a Vietnamese subsidiary of China's leading textile and garment maker Shenzhou International Group, build a $140m apparel complex in the Dong Nam industrial park near Ho Chi Minh city.
The complex will include a design centre and manufacturing facilities producing high-quality apparel. The Hong Kong stock exchange listed Shenzhou International Group currently supplies goods for international brands including Puma, Nike, Adidas, Mizuno, Fila and Uniqlo.
The second license has been given to Taiwanese water sports apparel maker Sheico Group, which is to invest $50m in a facility at the same industrial park. This complex will extend from fabric production to sewing lines, and will employ around 3,550 local workers.
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