Home / Knowledge / News / Textiles / Albania unveils support package for textile industry
Albania unveils support package for textile industry
23
Apr '14
The Government of Albania, a country in Southeastern Europe, has unveiled a support package for the textile and garment industry (called active processing industry in Albania), which is very different from the previous model which was based on remittances and public debt, according to the website of the Albanian Prime Minister’s Office.
 
The new support package focuses on domestic production, foreign direct investment and better returns through efficiency, as these would help to ensure better economic development through collaborative partnerships between the Government and businesses, the statement said.
 
The textiles package is the first of its kind to be specifically developed for the active processing industry in Albania. It is also the first package which has been developed for a sector in accordance with its own requirements, with the first step having involved collecting opinions from key stakeholders themselves.
 
Overall, the measures of the new support package aim to significantly improve quality and thereby increase exports. This is reflected in an increased export target of more than 80 percent within three years.
 
Altogether 46 measures and proposals are mentioned in the support package. Some of these measures have already been implemented. For example, the Euro contract award for active processing plants, which is expected to save an average of US$ 2.5 million lease to entrepreneurs.
 
Another important focus of the package is the connection between the development of textiles businesses and the growth of employment. For the purpose, the Government will take a series of measures to increase the number of declared employees in the country’s textile sector from the present 28,000 to 100,000 in three years. The Employment Fund for the textiles industry will also be increased to $5 million by the end of this year.
 
The Government expects that the new support package will help Albania become an important textile producer in Europe.
 

Fibre2fashion News Desk - India


Must ReadView All

Indian govt relaxes cabotage rule for cotton transport

Textiles | On 25th May 2018

Indian govt relaxes cabotage rule for cotton transport

The Government of India has relaxed cabotage rules for transportation ...

Courtesy: Teejay Lanka

Textiles | On 25th May 2018

Teejay Lanka doubles production capacity at Indian mill

Teejay Lanka, one of Sri Lanka’s largest textile manufacturers, has...

Courtesy: Messe Frankfurt/Yarn Expo Autumn edition

Textiles | On 25th May 2018

Yarn Expo Autumn 2018 scheduled earlier

Over 500 exhibitors are expected at the Yarn Expo Autumn 2018, being...

Interviews View All

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Tony Ward
Tony Ward

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

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search