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Textile industry to implement multi-billon Yuan plans
06
Aug '08
After the launch of the Promotion & Development Office for the benefit of the Taiwan Textile Industry, three plans, each amounting to 100 billion NT Yuan, will be brought into action which includes – the plan to double industrial textiles, to develop and promote alliance of functional textiles and finally of Fashion Taiwan.

The office of Promotion & Development is expected to play a key role in these future projects and for implementing strategies and bringing about integrated coordination of the textile sector.

The plan to double industrial textiles will mainly integrate relevant associations, such as textiles associations, venture capital associations, composite materials associations and other related trade bodies. The P&D office is expected to guide the investment program of 80 billion NT Yuan by 2015, which will help the sector reach a targetted ouput of 180 billion NT Yuan.

Moreover, the plan to promote and develop alliance of functional textiles will combine 25 strategic alliances for development of new products, including functional materials.

Lastly, the plan of Fashion Taiwan will select eight targets for promotion and will take the responsibility to develop three international brands every year. It will offer business opportunities of about 100 billion NT Yuan in output value through integrated operation of marketing and brand promotion.

If these three outlined plans undergo successful execution, Taiwan textile industry would surely take a big leap and generate more revenue for further strengthening its textile industry and its competitive edge over other countries.

Fibre2fashion News Desk - China

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