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Overseas firms invest in clothing sector
Apr '10
With an objective to enjoy the benefits of, already effective as well as projected, Free Trade Agreements (FTA) in Peru, more than ten Latin American and Singapore based companies are intending to set up plants in Peru in the short term, stated the Ministry of Foreign Trade and Tourism (Mincetur).

The construction work of the projected production plants in Peru have been started by the respective companies, which would lead to exports to those countries with which Peru has signed these agreements, informed Mr. Eduardo Ferreyros, the Foreign Trade Deputy Minister.

These companies are particularly the clothing companies and some belong to the agro-industrial sector. Diversity of investment sectors offered by Peru has been admired by the foreign investors, pointed Mr. Ferreyros. This will keep on generating a number of jobs and will improve Peru's standard of life, he added.

Offering support to foreign as well as local investors for purchasing land and acquiring assets, is the key purpose of the country's policy of opening doors to investors, said, the Minister.

Fibre2fashion News Desk - India

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