Taiwan-based footwear giant Feng Tay Enterprises Co. Ltd., a supplier of Nike, has cancelled an additional investment of $23 million in Vietnam.

He pointed out that footwear factories in Vietnam were forced to shutter during the Covid-19 pandemic but said "even more importantly," Nike's employees worked from home for 2.5 years.

Apple, chipmaker Intel and footwear and apparel giant Nike are among U.S. corporations which bet on Vietnam as a production hub for goods often exported to the United States. The massive inflow of ...