Vietnam to only further enhance the Chinese textile industry with the lifting of tariffs on garments made by TPP members from the yarn stage forward expected to come through soon as the Trans-Pacific Partnership negotiation is going on between Vietnam and 11 other countries including big economies like the US, Canada, Japan and Australia.
Tai Yuen Co. Ltd, a subsidiary company of the Taiwan-based Yunlon Group, who operates from the upstream to downstream vertically from spinning, dyeing to garment business has part of its expansion plan will be constructing a textile mill in Dong Van II Industrial Park, Duy Tien district, Vietnam on around 24 hectare of land. This will be the first textile mill with an investment by the Taiwanese group in Ha Nam province of Vietnam.
Vietnam garments sector began exporting accessories for the first time in 2013, a milestone in industry development after decades of purchasing input material from overseas. With the availability of domestic garment accessories; apparel makers are finally able to cut costs in the form of pricy material purchases from China, Korea, Bangladesh and other countries.
