27th June 2018
Clothing return problems worsening, says major card owner
Foreign textile-related investment in Vietnam has fallen this year to “several” new projects from the 129 projects worth $600 mn approved in 2016.
2017 itself saw a 30% fall in new projects and a 70% fall in cash invested, as businesses clawed back projects already initiated after President Trump pulled the US out of the Trans Pacific Partnership (TPP). But investment had been falling already from the 197 projects worth $2.5 billion approved in 2015.
As well as the TPP problems, investment has slowed because of the endless delays in even agreeing what Vietnam agreed with the EU about a possible future trade agreement, and problems getting local authorities to accept polluting upstream factories.