Hong Kong Garment Makers Shifting Investment to Vietnam from China
Hong Kong apparel and shoe businesses are shifting their investment from China to ASEAN countries, especially Vietnam for low costs, said Chow Ralph, an official of the Hong Kong Trade Development Council.
Chow Ralph, leading a Hong Kong garment and shoe business mission, May 5 met with apparel and footwear enterprises at industrial zones and export processing zones in southern Vietnam.
As of April 22 this year, Hong Kong pumped in 467 projects with total registered capital of US$6.06 billion in Vietnam, ranking the sixth among foreign countries and territories investing in the Southeast Asian nation.
Apparel and footwear are taking the leads in Vietnam’s list of export items with export revenues of some US$2.6 billion and US$1.36 billion in the first four months this year, up 24.5 per cent and 15.7 per cent on-year, respectively. (Vietnam Economic Times)
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