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Hyosung plans to up investment in its Vietnamese operation

Related Keywords: annual spandex production capacity in Vietnam, gradually increase tire cord production capacity, Hyosung Corp, investment in Vietnam, plans to ramp up, produced textiles and industrial materials, South Korea based leading chemical and textile company, to become its largest spandex manufacturing production base, Trans Pacific Partnership

Hyosung Corp., a South Korea based leading chemical and textile company plans to ramp up its annual spandex production capacity in Vietnam to 80,000 tons from current 50,000 tons, a move that will make the plant to become its largest spandex manufacturing production base, and gradually increase the tire cord production capacity from current 100,000 tons per year.

Hyosung Corp. is expected to up investment in Vietnam after its operation in the Southeast Asian country delivered the most impressive earnings among its subsidiaries last year.

VN textile and garment continue to see resurgence in investment capital

Related Keywords: expansion of the plant to manufacture polyester fibre products, Far Eastern capital increase plan remain unchanged, granted a license to increase investment capital, investment in Vietnam, number of Korean investors, planning to expand their production, take advantage of business opportunities, Trans-Pacific Partnership agreement, Vitas

Investment in Vietnam was admittedly to take advantage of business opportunities from the Trans-Pacific Partnership (TPP) Agreement, but Far Eastern affirmed that even if the TPP is suspended, their capital increase plan will remain unchanged.

The biggest increase in investment capital in the textile and garment sector in the year so far is the expansion of the plant to manufacture polyester fibre products by Taiwanese Polytex Far Eastern Group in Binh Duong Province.

EU trade agreement to eliminate tariff lines for Vietnam

Related Keywords: all EU exports of machinery, biggest trade partner, eliminate duties on garment, eliminate tariff lines, EU textile fabric exports, EVFTA, Free Trade Agreement between EU and Vietnam, investment in Vietnam, largest export markets, Textile, zero duty tariff rate quotas

After almost three years and 14 official rounds of talks and many mid-term negotiations between ministers, heads of delegations and technical groups, Vietnam and the EU have reached an agreement on all basic points of the Free Trade Agreement between EU and Vietnam (EVFTA), the Ministry of Industry and Trade announced on Saturday.

The EU will eliminate 99.2 percent of tariff lines for Vietnam, equivalent to 99.7 percent of Vietnamese export turnover with the remainder of export turnover enjoying zero-duty tariff rate quotas.

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