With an investment of $ 50 to $ 60 million, the National Commission of Free Zones (CNZF) is negotiating the installation of a new textile factory with a foreign capital group.
Dean García Foster, executive director of the Nicaraguan Association of Textiles and Apparel (Anitec), said three textile companies have confirmed their expansion plans, which involves an estimated investment of $ 20 million.
"One of the companies is Sincotex, which produces pants, generating 2.000 new jobs. Pant producer Gildan would also create about as many jobs as Sincotex with an expansion of their own," reports Laprensa.com.ni.
During the course of the year, the U.S. textile company will restart operations in the country.
The start-up would initially create 700 new jobs.
"The secretary of the National Free Zone Commission (CNZF), Alvaro Baltodano, and executive director of the Nicaraguan Association of Textiles and Apparel (Anitec), Dean Garcia, confirmed to the press that the reopening of the company is underway and will become official in the coming weeks,” according to an article at Laprensa.com.ni.
The sector expects to create 6.000 jobs this year, as well as increased orders from international markets.
Dean García is the president of the Nicaraguan Textile Industry Association (Anitec). He identifies two key elements in this recovery: improvement in the U.S. economy and new markets like the European Union and Canada.
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