More investments in Vietnam’s garment and textile industry is what defines Taiwan’s new growth strategy.
While confirming more on the same, Wang Wen-yuan, Chairman, Taiwan’s Chinese National Federation of Industries, said that Vietnam continues to remain an important investment destination for Taiwan in latter’s development strategy.
He was speaking at a forum held in Ho Chi Minh City yesterday.
He added that Taiwan is keen to invest more in garment and textile sector as well as footwear industry in the coming years.
Vu Duc Giang, President, Vietnam Textile and Apparel Association (VITAS), while highlighting Taiwan’s contribution to Vietnam’s garment and textile industry, mentioned that VITAS plans to soon set up an information exchange channel with Taiwanese apparel firms in Vietnam.
So, what is this information exchange channel for?
Giang added these channels were relevant especially to connect supply sources of materials with the local garment and textile industry.
He also urged Taiwan’s business companies to come forward and invest big in yarns, weaving and also dyeing. This, he said, will help resolving the shortage of raw materials to some extent.
“Demand for raw materials in Vietnam is an opportunity for Taiwan to increase investment in Vietnam. Also Taiwan can help Vietnam with its latest weaving and dyeing technologies and training facilities,” further added Zhan Zhengtian, President, Taiwan Textile Federation.
It is noteworthy that Vietnam remains Taiwan’s biggest importer of apparels and textiles with an annual revenue of over US $ 2 billion.