Home / Knowledge / News / Textiles / Indonesian textile sector to invest $230 mn this year
Indonesian textile sector to invest $230 mn this year
09
May '15
Indonesia expects to receive 3 trillion rupiah ($230.15 million) in investment that will go to the textile and garment industry this year despite rising challenges by way of new electricity prices and increase in labor costs, one of the country’s leading newspapers has reported.

A sizeable portion of one trillion rupiah ($77 million approx) will derive from a local firm, while the majority will come from foreign investors, particularly from China, South Korea and Taiwan, according to Indonesian textile association (API) chairman Ade Sudrajat.

“Most of the investment will be poured to Central Java,” The Jakarta Post quoted Ade as saying on the sidelines of a recent seminar hosted by the investment coordinating board.

The manufacturing facilities to be financed by the planned investment were to produce apparel as investors anticipated greater market access that Indonesia was targeting through potential trade agreements with key buyers, such as the EU, he said.

Without free trade deals, Indonesian textile and garment producers are currently being charged duties ranging from 11 to 30 per cent to main export destinations, including the EU and US. The trade arrangement may push down levies to as low as zero per cent, resulting in an enhanced edge of traded goods in terms of price.

Indonesia is preparing for talks on a long-delayed comprehensive economic partnership agreement with the EU, which is expected to boost the competitiveness of its products to the 28-member bloc.

Indonesia has seen its shares decline in textile trading with major partners from 2007 to 2013, excluding Japan, with which it has inked an economic partnership agreement, according to data from the business group. (SH)

Fibre2fashion News Desk - India


Must ReadView All

Sanjay K Jain, managing director, TT Ltd

Textiles | On 21st Sep 2017

TT’s Sanjay Jain elected new chairman of CITI

The Confederation of Indian Textile Industry (CITI), the apex body...

Textiles | On 21st Sep 2017

NRF urges US lawmakers to lower corporate tax rates

The National Retail Federation (NRF) has written to the US Senate...

Apparel/Garments | On 21st Sep 2017

UK fashion exports £10.7 bn in 2016; highest till now

Exports of British fashion goods rose to £10.7 billion in 2016, the...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

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

September 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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

Yes No

Active Poll

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

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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

Yes No

Active Poll

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

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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

Active Poll

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

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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