Vietnam: Taiwanese group plans $150m textile plant
09/05/2014
Construction is expected to take one year to complete and the facility will employ around 5,000.
The TPP – a trade deal involving Vietnam, the US and 10 other countries – is set to conclude by the end of this year. One of the key debates is how much of the apparel manufacture needs to happen in the zone to qualify for zero tariffs, with some countries advocating the ‘cut and sew’ rule (only garment manufacture needs to take place in the zone) while others favour the yarn-forward rule (the whole process from yarn manufacture onwards). Rising wages in China coupled with perceived TPP advantages have led to a number conglomerates investing in Vietnam over the past months.
Tai Yuen is a subsidiary of Yulon Group, Taiwan’s biggest carmaker.
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