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Foreign investors give textile sector go-bye
22
Nov '10
Clothing and textiles industry players in Zimbabwe have raised concern that no attempts are being made to draw international investors to invest in the sector.

They expressed their concern at a trade and investment seminar recently held in Bulawayo. A group of 50 business persons from South Africa also participated in this seminar.

Not a single businessman showed any interest in investing in the clothing and textile sector, as all of them wanted to examine the investment prospects with several other sectors like in mining, tourism, pharmaceuticals, manufacturing, infrastructural development and agriculture.

Textile industry players said that, the industry has not been promoted in a proper fashion so as to lure foreign investors, which has lead to a situation where most of the businesses in the industry were facing severe problems like dearth of raw material and such other issues.

It is really unjust that, none of the investors who attended the seminar belonged to the clothing and textile sector.

The clothing and textile industry of the country even needs to get hold of overseas investors to associate with. But then despite of Bulawayo being greatly engaged in clothing and textile trade, none of the investors showed any willingness to collaborate with the industry.

Fibre2fashion News Desk - India

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