Home / Knowledge / News / Apparel/Garments / S. Korean clothing firm invests in North Industrial Park
S. Korean clothing firm invests in North Industrial Park
12
Jan '11
State Department Counselor Cheryl Mills participated in the signing of an agreement between Sae-A Trading Co. Ltd., the Government of Haiti, the U.S., and the Inter-American Development Bank to develop a 623-acre industrial park in northern Haiti. The fact sheet below was provided by the U.S. Embassy Port-au-Prince at the event.

The Government of Haiti, the United States Government through the Department of State, and the Inter-American Development Bank closed a deal to build an industrial park in the Haiti's North Corridor with Sae-A Trading Co. Ltd., Korea's leading garment manufacturer, as the anchor tenant.

The North Industrial Park, which is projected to create 20,000 permanent jobs through Sae-A's investment alone, fulfills priorities in the Government of Haiti's National Action Plan to create centers of economic development outside of Port-au- Prince for Haiti's future growth and to bring much needed jobs to Haiti's underserved regions. The IHRC facilitated and approved this effort, marking the first major public-private partnership to bring permanent jobs to Haiti since the January 12, 2010 earthquake.

The U.S. Congress's passage of the Haiti Economic Lift Program (HELP) Act in May 2010 was a critical catalyst by significantly increasing U.S. trade preferences for Haitian apparel, which in turn made Haiti more attractive to large scale manufacturing operations like Sae-A. Each signatory has committed to investments in the development of the Park and the surrounding area, including park infrastructure, housing, waste-water treatment, port modernization and electrification.

This agreement brings to fruition the Memorandum of Understanding signed in September on the margins of the United Nations General Assembly, where the parties agreed to explore the viability of a globally competitive industrial park and major manufacturing operation in Northern Haiti. Park operation and manufacturing activity is projected to begin in the first quarter of 2012.

The Park will:

• Create 20,000 full-time Haitian jobs in the first phase with Sae-A's investment alone, making it the largest private employer in Haiti.
• Create in excess of $500 million in wages and benefits over ten years, with each worker earning 3-4 times Haiti's current GDP per capita (per capita GDP is approximately $640, whereas apparel jobs will pay approximately $2,400).
• Directly support the livelihoods of 100,000 to 120,000 Haitians.
• Grow to support 65,000 permanent jobs once the Park is fully developed—increasing Haitian garment industry related jobs by more than 200%.
• Grow the number of formal registered private sector jobs in Haiti by at least 20%
• Create Haiti's first textile mill with knitting & dyeing.
• Be the first manufacturer to produce apparel with textiles made in Haiti, reducing dependence on imported raw materials and dramatically increasing the value added component in Haiti for each garment manufactured.


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X