PERU: Low Cost of Textile Production Pulls in Huge Investments
Textile industry of Peru has gradually come to a stage where it is receiving special preference of client countries backed by its low cost of labor, thereby displaying an edge over sectors in other countries. Apart from being ranked as one of the 15 lowest-cost countries in the world, Peru’s textile industry has a…
Egytex News Desk
Egytex
The Textile Committee of National Industry Society said that there has been an increase in investment in the textile sector largely due to professionalism of the Peruvian businessmen together with natural abilities of domestic workers. Moreover, the country not only specializes in manufacturing excellent goods with different textile raw materials, but also in producing high-grade apparels made from foreign raw materials like upland cotton, wool and man-made fibre.
Mr Martin was confident when he stated, “Peruvian textile investments during 2008 will rise to about US $200 million.”
Most importantly, production of high technology machines and Free Trade Agreements with countries like US, Canada, Chile, Singapore and others have also attracted a considerable amount of foreign direct investments.
In keeping with the present scenario, the textile industry of Peru is likely to undergo massive development in due course of time provided the cost of production remains as conducive as during the existing circumstances.
Source: Fibre2fashion.com
From the Egytex news archive, first published on 3 June 2008. Figures and names are as reported at the time.
