Far Eastern New Century Corp, one of Taiwan’s leading textile makers, is planning to invest NT $ 10 billion (US $ 323 million) in Vietnam, aiming to transform the Southeast Asian country into the company’s third production base after Taiwan and China. Far Eastern has been running a factory in TinhBinh Duong since 2007, and will expand its production base in Vietnam to build a large-scale, all-in-one facility. Far Eastern will roll out yarn products, and then the new facility will enter dyeing services and finally produce ready-to-wear garments.
In addition to the planned NT $ 10 billion investments in Vietnam, Far Eastern Chairman Douglas Hsu told that his company will continue to invest in Taiwan and China with an additional NT $ 10 billion in funds. The company is determined to stay in Taiwan instead of moving abroad since the textile maker is rooted in the country.