FOREIGN TEXTILE INVESTMENT MESHES WITH VIETNAM GOVERNMENT PLAN TO UPGRADE TECH IN SECTOR
February 1st, 2021
Vietnam’s textile-garment sector has been known for low labour productivity relative to China, but this has been changing as foreign-invested factories across the country bring in innovative processes and equipment. A key goal is taking advantage of Vietnam’s privileged access to major markets, especially the European Union (EU), with whom it has a free trade agreement.
A good example of a foreign direct investor bringing new tech to Vietnam’s textile sector is Denmark-based LTP Group, which in 2008 set up its Asian innovation centre and production ...
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