Home / Knowledge / News / Textiles / Many Argentine textile firms to make new investments

Many Argentine textile firms to make new investments

14
Feb '12
More than 62 percent of Argentine textile and garment companies would be investing this year for expansion of their production capacity and to increase their competitiveness.

The annual survey conducted by the Foundation for K revealed that 62.9 percent of Argentine textile and garment firms are willing to make productive investments this year, Debora Giorgi, Minister of Industry, said.

The companies that were surveyed have shown interest in making new investments due to the projected demand growth driven by the country's developing economy and the confidence that they have in the effectiveness of the Government's steps to put curbs on imports and save the domestic industry from unfair competition.

Nike, Lacoste and Coteminas are among the companies that have laid out plans to invest and increase their production capacity, the Minister said.

Moreover, 51.4 percent of all companies surveyed were optimistic that sales would rise in 2012. Their optimism is based on certain factors including the good quality of their products, the expected growth in demand and the Government's support by implementing policies to protect the domestic market.

On the job front, 89 percent of the companies surveyed said they will retain the present workforce or even increase their number during the year.

Argentine textile and garment industry is expected to borrow the most from the Bicentennial Fund that extends finances for productive investment at a fixed annual rate of 9.9 percent in pesos.

The Bicentennial Fund has till now given green signal to 15 projects for over US$ 500 million that are likely to generate over 700 new employment opportunities.

The Argentine Government aims to increase the country's textile and garment production from the current US$ 3,618 million to US$ 9,200 million by 2020 by safeguarding the domestic value chain of textiles and garments, the Minister said.

She added that the Government also aims to increase textiles and garment production by 10 percent every year and thus generate 250,000 new employment opportunities by 2020.


Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 30th Jul 2021

ILO outlines 3 scenarios for Asian garment sector recovery trajectory

Looking to the post-pandemic period, a new research brief by the...

Pic: Shutterstock

Retail | On 30th Jul 2021

UK retail sales up 0.5% MoM in June; clothing store sales down 4.7%

Retail sales volumes in the UK increased by 0.5 per cent in June 2021 ...

Pic: Shutterstock

Textiles | On 30th Jul 2021

Prime Content| Here's why global cotton trade will rise in July-Dec 2021

Global cotton trade is expected to rise in the coming months of 2021...

Interviews View All

Water stewardship, Stakeholders

Water stewardship
Stakeholders

Water use efficiency remains relatively unexplored

Textile Industry, Head honchos

Textile Industry
Head honchos

Biggest learning was adaptability

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

C Maennich,

C Maennich

Trützschler, one of the world's leading textile machinery manufacturers,...

Sanjay Vakharia,

Sanjay Vakharia

One of the first few Indian denim brands, Spykar, established in 1992, was ...

David Guiho,

David Guiho

Headquartered in Apt, South of France, Delta Plus designs, manufactures...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Jacques Prigneaux, EDANA

Jacques Prigneaux
EDANA

EDANA has been the leading global association and voice of the nonwovens...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Seema Gujral, Label Seema Gujral

Seema Gujral
Label Seema Gujral

<b>Seema Gujral</b>'s designs for her eponymous label revolve around...

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


July 2021

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


Advanced Search