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Indonesia to offer funds for textile machines upgradation
24 Feb '12
1 min read
The Government of Indonesia will offer stimulus funds to textile entrepreneurs in the country to upgrade their existing machines.
The Ministry of Industry has sanctioned a sum of Rp 172 billion this year for revitalizing machines in textiles, leather and footwear industries.
Around 200 industries in Central Java province and another 60 factories in Surakarta could benefit from the stimulus fund, according to Ramon Bangun, Director of Textile Industry.
Mr. Bangun said efficiency and production capacity of textile manufacturing units could be greatly enhanced, if the stimulus fund is utilized suitably.
He added that the increase in production capacity would make the firms more competitive and also create new employment opportunities.
He estimated that the textile and garment sectors could together absorb about 13,000 persons during the current year.
The Ministry of Industry has sanctioned a sum of Rp 172 billion this year for revitalizing machines in textiles, leather and footwear industries.
Around 200 industries in Central Java province and another 60 factories in Surakarta could benefit from the stimulus fund, according to Ramon Bangun, Director of Textile Industry.
Mr. Bangun said efficiency and production capacity of textile manufacturing units could be greatly enhanced, if the stimulus fund is utilized suitably.
He added that the increase in production capacity would make the firms more competitive and also create new employment opportunities.
He estimated that the textile and garment sectors could together absorb about 13,000 persons during the current year.
Fibre2fashion News Desk - India
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