Japanese companies expanding textile sector in VN

Nikkei Asian Review 12.6 days reported Japanese trading company Chori – specializing in textiles, chemicals and machinery – is planning to expand its presence in VN through promoting cooperation with local partners .

In fiscal year 2017, Chori will expand the number of partner companies in the textiles sector in VN to 15, 5 times the current figure. This month, the company will also set up a branch in Ho Chi Minh City to monitor the quality of textile goods.
According to Nikkei Asian Review, Chori existing subsidiaries in Thailand and Indonesia, but the company will evaluate VN is a convenient springboard to export goods to the US. VN has lower labor costs than China and has many skilled seamstress. Moreover, the Government VN are loosening restrictions on foreign investment in the Agreement Trans-Pacific Partnership (TPP) promises to reduce the export and import taxes.