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Sudan welcomes Chinese investment in textile sector

28
Feb '12
Chinese investment in the Sudanese textile and clothing industry is being taken positively, the Minister of Industry, Engineer Abdel Wahab Mohamed Osman, said during a meeting with a delegation of a China-based company, which is one of the world's leading textile conglomerates with an industry experience of over 30 years.

Lee Yu, Manager of the Chinese firm who led the Chinese delegation, confirmed that his company is looking forward to invest in Sudan. To start with, they would invest in cotton cultivation in Al Gezira to cater to the textile and clothing industry and thereby to develop better integration between the industry and agriculture.

During the meeting, the Minister listed favourable factors for Sudan in the area of agriculture and cotton industry, and also discussed the Ministry's ongoing ventures like establishing textile facilities in the cities of Duwain, Kosti and Shendi and revival of Al Haj Abdallah and Al Hassahissa textile units.

He invited the Chinese investors and investment companies to invest in different segments of the Sudanese textile and clothing industry, and urged them to invest in the factories that are being newly set up and also in those where operations are being revived.

The collaboration would prove mutually beneficial for both countries, he said and assured all support to both the domestic as well as foreign private companies in providing basic infrastructure facilities.

He also said that private sector would be provided incentives in the form of reduced taxes and duty-free import of raw materials.

Mr. Lee Yu also praised the national resources and favourable climate for cotton cultivation in Sudan, and invited Mr. Osman to visit China to learn more about their company's investments there.

Fibre2fashion News Desk - India


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