According to the Ho Chi Minh City Export Processing and Industrial Zones Authority (Hepza), advanced textiles cumulatively surpassed the US$200 million mark, accounting for 82.44% of all total foreign direct investment (FDI) in its EPZs and IZs.
 

Tran Viet Ha, head of Hepza's Investment Department, said that foreign investors are implementing large investment projects in the textile and garment sector in the city’s industrial and processing zones at an ever increasingly faster pace.

The surge in international investment in these zones is largely attributable to textile processors’ anticipation of Vietnam fully opening the market in line with World Trade Organisation commitments and the signing of the Trans-Pacific Partnership (TPP) in 2015, Ha said.

The projects include a US$140 million facility producing high-end garments by Worldon Vietnam Co., Ltd. and a US$50 million factory producing high quality textiles of Sheico Vietnam Co., Ltd.

Ha added that in the coming time, there will be more textile investment facilities taking shape in HCM City’s new industrial zones such as Southeast Cu Chi and Northwest Cu Chi.

With the aim of expanding investment and channelling it into support and hi-tech industries, Hepza will also continue to accelerate the establishment of specialized industrial zones in Vinh Loc, Tan Tao, and Tan Thuan.

Ho Xuan Lam, office manager of Hepza noted that the authority has on the agenda plans to launch a Japan-Vietnam support industry forum aimed at enticing Japanese small and medium enterprises to invest in priority areas.

As of June 30, Hepza reported total newly registered and supplementary investment capital in the nation has reached US$333.47 million, up 55.49% over June 30 of last year.