Home / Knowledge / News / Textiles / Textile & clothing sectors recover from slump

Textile & clothing sectors recover from slump

07
Jul '07
Statistics made available by the Central Bank of Swaziland's Annual Report shows that this year, the country's Foreign Direct Investment (FDI) has increased by 11.8 percent.

This was despite major challenges faced by most sectors. In the past years, continued market slide of the country's textile and clothing industry had proved to be the prime cause of decline in total FDI. A total slump of E140 million in FDI stock was recorded within the services sector itself.

But the picture has improved somewhat. Apart from the increase in FDI, the manufacturing sector also recorded a 6.1 percent growth.

Last year in March, five companies in the textile and clothing sector had shut shop with those remaining scaling down costs by retrenching employees.

However, the country has broadened its drive towards further diversification of exports, generated an even more investor-friendly climate and intensified promotional campaigns.

The establishment of the Swaziland Enterprise and Entrepreneurship Programme (SWEEP) by TechnoServe was made possible because of the development of an Investor Roadmap. USAID extended financial assistance to SWEEP with the aim of developing SMEs to achieve economic growth and create more jobs.

Commenting on the progress made so far, Enterprise and Employment Minister Lutfo Dlamini said this ability to overcome past problems is the result of the country's unconquerable spirit. He urged foreign investors to regard Swaziland as a country with good investment prospects.


Must ReadView All

Pic: Shutterstock

Textiles | On 25th Sep 2021

EU extends GSP plus status for Pakistan with 6 new conventions

The European Union (EU) has extended its general system of...

Pic: Shutterstock

Apparel/Garments | On 25th Sep 2021

Bangladesh seeks Russian support for ensuring direct exports there

Bangladesh commerce minister Tipu Munshi recently sought Russian...

Pic: Boris-B / Shutterstock.com

Retail | On 25th Sep 2021

US’ Halloween spending to reach $10.14 bn this year: NRF

Consumer spending in the US on Halloween-related items is expected to ...

Interviews View All

Water stewardship, Stakeholders

Water stewardship
Stakeholders

Water use efficiency remains relatively unexplored

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Sustainable and eco-friendly fibres remain in the minority

Seema Mishra,

Seema Mishra

Set up in January 2020 by <b>Seema Mishra</b>, the Kasrawad Art Cluster...

Susanna Koelblin,

Susanna Koelblin

Founded in 1920, Eastman is a global specialty materials company that...

Barry Goodwin,

Barry Goodwin

UK based Amba Projex Ltd designs, manufactures, and installs industrial...

Sachin Pendharkar, Dieffenbacher India Pvt Ltd

Sachin Pendharkar
Dieffenbacher India Pvt Ltd

Germany-based Dieffenbacher Group is a producer of high-quality composites ...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

<b>Anjali Bhaskar</b> has an experience of 12 years in the fashion...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by <b>Aprajita Toor</b> were born out of a deep desire to...

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


September 2021

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


Advanced Search