Garments and textile sectors in Vietnam, which are being believed to benefit the most from Trans-Pacific Partnership (TPP) have started gearing up to avail these opportunities, by investing in modern production lines, upgrading facilities, improving design and product quality, and finding access to the market.
The Thanh Cong Trade Investment and Garment Joint Stock Company has invested in a weaving-dyeing-garment factory with a total investment of US $ 30 million during 2014-17. TNG Trade and Investment Joint Stock Company has put itno operation one more cotton production line, worth more than US $ 1.77 million, which has three times higher capacity than the current production line of the company.
Following the signing of the TPP, the “made in Vietnam” products will enjoy a zero per cent tax instead of the current 7-21 per cent when exporting to the US.
