TAL Group will expand its investments in Vietnam with a US$ 200 million garment and textile project in Phase I. TAL Group CEO Roger Lee announced plans for a 2nd factory in Vietnam, “especially thanks to the duty savings that we could get under TPP.” .
This brings the total announced TPP-related FDI in Vietnam’s textiles/apparel sector to over $1 billion. TAL is among several companies that are investing in Vietnam in view of the benefits that the country would get as it nears the signing of the TPP. Hong Kong’s Texhong Corporation and Sunrise Textile Co., Japan’s Toray International and Mitsui Corporation, S Korea’s Kyungbang, Austria’s Lenzing, have also announced FDI plans. Read more