Textile industry readies to house foreign production facilities
06 Jun '08
1 min read
Bellegprom Concern, a conglomerate association of over 110 enterprises in light industry told the media that it is preparing to house foreign production facilities in Belarus.
Engaged in producing cotton, silk, wool, flax, synthetic fabrics, cotton yarns, wool yarns, carpets, sewing and knitted products, hosiery, footwear, sportswear, leather goods, products made of natural and imitation fur; the association believes attracting foreign investments is a lucrative proposition.
The head of the association told the press that they were interested in setting up production of fast fashion clothing in Belarus especially since a number of European countries have expressed their desire to make investments in Asia and countries like Belarus, Russia and Ukraine.
Despite the fact that labor force in Belarus is more expensive than in Asian countries, there is no dearth of investors. This is because the requirements of stability, quality and reliability in production are provided effortlessly by domestic companies.
Besides, Bellegprom Concern also has plans to be an investor by having a joint venture with Belarusian private companies. For similar reasons, the association is in talks with Serge Company and a few others.
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