A meeting is being convened for the textile and clothing industry on March 16 in El Salvador, where the overall situation in the sector will be discussed.
From a statement issued by Proesa:
El Salvador is preparing for the third edition of the Forum of Textiles and Apparel (FOROTEX) 2016, a space where high-level international speakers present trends and strategies for competing in international markets.
On May 20th-22nd the XXIII edition of the Apparel Sourcing Show will be held with the presence of companies in the region and international buyers.
The international event will be held at the Grand Tikal Futura Hotel, where it is expected that 500 exhibiting companies will take part along with five thousand potential buyers from various textile countries in Latin America and elsewhere.
The Trade and Investment Office at the Ministry of Finance has registered 16 new investments since June 2011 to May 2012 amounting to $10 million.
An article in Laprensagrafica.com reports that "This department at the MINEC keeps track of investments in maquilas, industry and in commercial zones, Flores said. These investments have generated 1.660 direct jobs.
A textile company will start operating from the country on March.
This was announced by Enrique Córdova, director of Proesa, the investment promotion agency of El Salvador.
"Córdova affirmed they are holding talks with other investors, and expect to land $150 million in foreign direct investment in 2010", reported Laprensagrafica.com.
Three textile companies and a cosmetics distributor will begin operations in the country before year-end.
Textile companies Apparel Production Services (APS), Supertex, Darlington Fabrics and cosmetics distributor Arabela Logistics will generate some 2.500 direct jobs, remarked Alexander Segovia, presidential secretary.
"The Government awaits the decision of 6 or 7 other companies before the end of the year", reported Elsalvador.com.
By the end of 2008, Hanesbrands is expected to substantially close plants in El Salvador, Honduras and Costa Rica, affecting 5,100 employees.
Hanesbrands Inc. in Winston-Salem, NC, continues to consolidate its U.S. and Western hemisphere operations and increase production in Asia.
The latest supply chain streamlining, expected to be completed by the end of summer 2009, will consolidate production through nine plant closures in five countries in the Western Hemisphere. The move will affect 8,100 employees, of which 875 are in the U.S. It also will complete the migration of the company's large knit-fabric textile production from the United States.
The textile and clothing industry in El Salvador grew by 15 percent so far this year, according to Central Bank Reserve.
The sector provides value-added elements like speed, quality and superior design, it sald.
For the fourth consecutive month, exports in the sector grew by 15 percent, and by the end of April exports totaled 615.9 million dollars, the bank reported.