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Published on Monday, 11 May 2015

Vietnam snubs multi-million dollar textile projects

Written by John Mowbray


DA NANG – Authorities in Vietnam recently turned down two textile and dyeing projects said to be worth hundreds of millions of dollars due to concerns about the environmental problems they may cause. The decision by Da Nang City authorities to snub the projects – proposed by investors from Hong Kong and South Korea – offers an encouraging indication that Vietnam will tread carefully as it looks to develop its textile industry and take advantage of the potential Trans-Pacific Partnership (TPP). Da Nang, Vietnam's third largest city, is known for its beautiful sandy beaches and history as a French colonial port. Accordingly, authorities in the city are said to targeting growth of the tourism industry and are only interested in projects using clean technologies.