Textile Liquidations Denounced in Honduras

The president of the National Association of Manufacturers indicated that the exodus of textile companies from Honduras to other countries has intensified.

Tuesday, June 25, 2013

"At least 17 ​​textile companies have moved their investments to Nicaragua and at least seven to Campeche, Mexico, said the president of ANDI, Adolfo Facussé", according to an article in Proceso.hn.

Facussé said that Nicaragua has opened its doors to investors and assured them proper working conditions. "The Minister of Economy in Nicaragua said to me 'send them over to me Adolfo, we will gladly receive them here... '" said the president of the industrial sector.

The leader remarked: "... they are not fools in Nicaragua , they are communists but they are not fools, over there they treat private enterprises with kid gloves, they are giving concessions and benefits and issues, and here we are closing them down, really, then this style of government that we have is suicide, that is to say, it is a government that does not understand how private enterprise works".



More on this topic

Another Textile Company Closes in Costa Rica

March 2013

The owner will rent the textile plant to a cooperative formed by the 300 employees who have been laid off.

The textile industry in Costa Rica has been in decline for the last eight years due to loss of international competitiveness, which has now been compounded by a fall in the dollar's value. These are the same reasons put forward by Michael Borg, owner of the textile company Borkar, on closing its operations in the country.

Costa Rica's Textile Industry Dips

June 2012

Ten years ago there were 120 companies which employed 30,000 people, whereas today there are 60 companies employing only 8,000.

An article in Nacion.com highlights the bankruptcy closure of the Compañía Textil Centroamericana as a basis for analyzing the decay of a once very important productive sector in the Costa Rican economy.

Panamanian Textile Sector Declines

January 2012

Although the 2011 figures showed an increase of 13.5%, the sector is losing productive capacity, producing only a third of what was manufactured in 2001.

Faced with the figures from the National Institute of Statistics and Census (INEC), industry representatives argue that the low production is mainly due to lack of personnel and training.

Panamanian Textile Industry in Freefall

August 2011

The high cost of labor and other input materials has forced some companies to close operations.

Contrary to the performance of other countries in the region, the Panamanian textile industry has shown a significant decline in recent years compared to the positive performance of the eighties.

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