Korean Textile Investors Turning to Vietnam

 

A report released by KOTRA, the Korea Trade Investment Promotion Agency, suggested that Vietnam became a good investment destination, rather than China.

 

KOTRA attributed the surge in investment in Vietnam’s textile industry to cheaper labor cost compared with China, a skilled workforce, incentives offered to foreign investment, as well as the government’s strong will to attract foreign investors.

 

The agency found that Korean textile companies invested 10% less in China while increasing their investments in Vietnam by 54% in 2006, making Vietnam the second largest investment destination.

 

In addition, Indonesia was also considered for investment by Korean textile manufacturers.

Back to Index of October 2007