Vietnamese Economists Urge Textile Programmes To Be Restricted

The latest data from the Foreign Investment Bureau of the Ministry of planning and investment show that South Korea has been ranked the largest foreign investor in Vietnam in 2014 with a total investment of 7 billion 320 million US dollars, surpassing Hongkong (3 billion US dollars), Singapore (2 billion 790 million US dollars) and Japan (US $2 billion 50 million).

In 2014, the total foreign direct investment in 54 provinces and cities in Vietnam amounted to US $20 billion 230 million.

Vietnam's new textile investment program, including Worldon (Uniqlo, Nike, Adidas and Puma), announced that it would expand its capacity in Hu Zhiming, formerly known as Xigong, increase investment capital by $160 million, and South Korea's Nobland to add $18 million to the city's Tan Thoi Hiep industrial plant.

However, a respected economist in Vietnam believes that Vietnam is currently the fastest growing producer area in the world. Based on environmental considerations, it is suggested that the Vietnamese government should consider limiting the number of textile ready-made garments.

Pham Chi Lan said in Pingyang (Binh Duong) Province: "dealing with environmental issues is very expensive, which is unbearable for the administration."

Pham Chi Lan calls authorities to consider restrictions.

He is also worried that investors may not be able to fulfil their commitment to environmental protection.

Chi Lan responded that the authorities in Pingyang recently received more than 200 applications for the development of textile garments, which require the establishment of industrial zones specifically reserved for the textile and garment industry.

In January (2015), the author of the On Earth Natural Resources Protection Council (Natural Resources Defence Council) magazine, the highly respected writer George Black, made recommendations to Vietnam, which is at the critical moment of development: "it is economic logic that dominates the development of Vietnam."

The time of vertical integration.

It is no longer meaningful for Vietnam to import 98% of the plain cotton and cut and sew in about 6000 garment factories, and start building textile mills and dyeing and finishing equipment, so that Vietnamese garment production will compete in almost every stage, not only at the cutting and sewing stage, but also the time when garment production is connected to environmental and social risks.

Black suggests that Vietnam's geography and topography make its rivers fragile.

"Vietnam is a skinny country, 1000 miles from north to south, but only 30 miles to the waist.

As a result, Vietnam's waterways are being abused by far upstream countries.

Arriving in Vietnam after the Great Mekong River flows through five other countries is the foundation for the survival and development of the delta states. But now the plan to increase industrial development will consume the last 5% of the 307000 Mekong miles of the Mekong drainage.

TPP, jointly put forward by 12 countries, can be regarded as the largest free-trade agreement in the world.