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Taiwan textile enterprises decide to pull out of the region
01
May '08
Taiwan Nianxing Group, one of the biggest jeans product manufacturers in the country has decided to close up 8 of its factories in Nicaragua which virtually means that they would nearly pull out of the region.

Reasons have been accredited to disagreement over hiking the salaries of local workers and other problems faced due to economic instability. As a consequence, Nianxing Group has decided to shift their production base from Nicaragua to areas in China.

Value of processing export of Nicaragua reached US $800 million last year and enterprises investing in textile and clothes industry in this district are mainly from Taiwan, Korea and US.

Officials of Nicaragua have expressed complete indifference to these moves and have showed disinterest in Taiwan's short term investments. In other words, speculation on these transitions does not seem to have impacted the Government.

Fibre2fashion News Desk - China

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