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Algerian govt to launch textile sector revival project
29
Aug '13
The North African country of Algeria is all set to launch a project for the revival of the textile sector in the region.
 
Mr. Cherif Rahmani, the Minister of Industry, Small and Medium Enterprises and Investment Promotion, told Algerian Press Service (APS) in a statement while visiting the M’sila province that the project to revive the national textile sector would be launched in the coming weeks, reports Algerian Press Portal.
 
The Minister said the revival of the textile sector was one of the key solutions given by the Government to develop the national industry.
 
The textile sector in Algeria currently only employs 15,000 workers, whereas it employed around 200,000 workers twenty years ago, he added.
 
The Minister also added that nearly 4,000 private units in the sector have disappeared due to a policy that favors the imports of textiles in the country.
 
The recovery plan would increase the turnover of the textile sector to an estimated 38.5 billion dinars in 2014, and the sector would register an annual growth rate of 10 percent.
 
The Government has earmarked a special budget for the textile sector, to be used for redeeming debts of the companies involved, as well as for upgradation of production facilities.
 
According to official statistics, Algeria currently imports around US$ 2 billion worth of textiles and garments annually.
 

Fibre2fashion News Desk - India


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