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Taiwanese Textile Corporation to expand in Vietnam

Taiwan’s leading Textile Company the Far Eastern New Century Corporation is planning to shift operation to Vietnam and hopes to capitalize on the country's cheap labour. In a statement, Eric Hu, President of Far Eastern New Century Corporation said they cannot think of a better place to build their new manufacturing base than Vietnam which offers cheap, high-quality labour and stands to possibly benefit from the Trans-Pacific Partnership. He said the company expects to triple its annual output of its fabric-dyeing and finishing plants in Binh Duong Province. Hu also reaffirmed a plan announced earlier this year to more than double the company's investment in Vietnam from $300 million to $760 million.

Formosa Plastics Group paid Vietnam $500 million in August to release an untold quantity of toxic waste into the East Sea. The government, there, is in the process of distributing the funds to affected fishermen and businesses. In this regard, Hu said his operations won't be affected negatively by fellow Taiwanese conglomerate Formosa that caused an ecological disaster. The textiles industry has become notorious, in recent years for using obsolete, polluting dyeing technology.

Following repeated violations of the country's environmental and water resource management regulations, provincial authorities in Ba Ria-Vung, Hu shut down the dyeing operations of the Mei Sheng Textiles Viet Nam last May. This happened to be the seventh shut-down of the Taiwanese firm's 28 yarn and fabrics-dying machines for an illegal water discharge. Way back in 2010, a similar scandal had erupted due to similar practices at the Pangrim Neotex firm of South Korea. Vietnam has become a destination for foreign polluters seeking cheap labour and low trade tariffs. The country's rogues gallery includes MSG producers Vedan and Miwon.

 
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