Apparel Online Bangladesh Magazine November Issue 2018 | Page 42

BEYOND BD TO ADVERTISE GOING TO A GOOD EVENT? Contact Rani Mahendru [phone] (512) [email protected] Send your industry gossip, photos and news to [email protected] Investment from Hong Kong to bolster Vietnam's apparel and textile sector Hong Kong has increased its investment in Vietnam, thereby significantly boosting the latter’s apparel and textile industry. This comes in the wake of huge opportunities created by the recent trade agreements signed between both the nations. Speaking on the development, Pong Su Ling, Secretary, Hong Kong General Chamber of Textiles, said that nearly 20 firms from Hong Kong will be attending 3 apparel and textile fairs to be held in Ho Chi Minh City in November. Pong Su Ling also added that Hong Kong had been exploring investment opportunities in ASEAN countries and Vietnam was one of them with huge potential. enhance cooperation among small and medium enterprises of both the countries. The firms from Hong Kong will invest significantly on the production of materials for garment and textile sector in Vietnam. They were confident that despite the risk of pollution (due to production of materials), latest technologies will help overcome this hurdle easily. The recently inked agreements like ASEAN-Hong Kong Investment Agreement (AHKIA) and ASEAN- Hong Kong Free Trade Agreement (AHFTA), are expected to help both the nations access the market in addition to creating ample business opportunities. Besides, the companies from Hong Kong believe that the agreements will not only create job opportunities but also John Cheh, CEO and Vice Chairman, Esquel Group Limited averred that the 4-decade- old Hong Kong based company had been building plants in Vietnam since 2011 and has been seeing phenomenal growth in the country, since then. Cambodia increases minimum wage; labour union not happy with the hike Cambodia has increased the monthly minimum wage for its garment and textile workers to US $ 182. The increase will be effective from January 2019. This was announced by Ith Sam Heng, Labour Minister, in a directive recently. Though there is an increase of 7 per cent in the wage, it has still caused displeasure among the labour unions, because the increase in monthly wages is much less than US $ 189 which  was proposed by all the major trade unions. Expressing dissatisfaction, Yang Sophorn, President, Cambodian Alliance of Trade Unions, said that the minimal hike did not allow the workers to keep up with the rising prices. The employers, on the other hand, have been constantly complaining about how difficult it is becoming for companies to stay competitive in Cambodia due to regular increase in wages. Kaing Monika, Deputy Secretary General, Garment Manufacturers Association of Cambodia, stated that the country had now joined Vietnam in terms of high wage in 42 Apparel Online Bangladesh | November 2018 | www.apparelresources.com south-east Asia. Earlier this year, the monthly minimum wage in the country had been raised to US $ 170, which was a 10 per cent jump from US $ 153 in 2017.