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.
“GD Maquilador de Nicaragua”, an apparel company owned by Mexican group Denim, opened its manufacturing facility today.
It is located at Km 14.1 of the North Highway in Managua, and employs 800 workers. The company expects to increase its payroll to 3.000 by the end of the year.
Nicaraguan newspaper “La Prensa” explained that the company engages in washing, packing and shipping jeans, mostly for Wrangler.
The textile and apparel “maquila” will be located in the “Zip Calpules” field, in San Pedro Sula.
María de los Angeles Posso, from the Labor Ministry, explained the company has already started recruiting personnel.
“Daniel Facussé, president of the Honduran Maquila Association, expects textile exports to increase 5% in the first half of the year, resulting in more job creation”, reported Laprensa.hn.
Textile company Modtex International will start operating in the Free Zone of Port Cortés soon.
In the short term, the company expects to create 400 jobs.
"Other companies already operating at this industrial park include apparel companies Garmax and Land Apparel, chemical and fertilizer producer Fenorsa, and corn derivatives manufacturer Graneles", reported Laprensa.hn.
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.
"When asked about new investments, García assured that 11 projects could become a reality this year.
Socks exports to the United States will reach $5.4 million by the end of the year, 101% more than 2008, when $2.7 million were sold.
"Honduras textile industry improved in this segment, despite the fact that total textile and apparel exports to the U.S. fell 7%", commented Guillermo Matamoros, director of the Honduran Maquila Association (AHM).
"The textile industry in Honduras is diversifying through larger exports of underwear", reported newspaper El Heraldo.
Orders are increasing as the United States, main destination for Salvadoran textile exports, begins to recover.
Patricia Figueroa, executive director of CAMTEX (Textile and Free Zone Chamber of El Salvador), commented that an increase in U.S. orders has allowed company Fruit of the Loom to reactivate its Montecristo facility.
Figueroa told Laprensagrafica.com: "We expect to see this recovery translate into larger export volumes for the first quarter of 2010 ... we are confident that once the market fully recovers, orders will increase even more".
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.
The Maquila Association reported they are negotiating $150 million investments for 2010.
Due to the international crisis and the domestic political crisis, the country will only see investment for $30 million in 2010, explained Daniel Facussé, president of the Maquila Association (AHM).
Further comments by Facussé were printed in Latribuna.hn: "We are focused on bringing more investment and maintaining jobs.
After nine months of consecutive decreases, textile exports finally reversed the trend, increasing 2.48% in October.
In October, sales to the U.S. summed $102 million, 2.48% more than the same month of 2008, according to data from Vestex, the Textile and Apparel Commision.
Sigloxxi.com reports: "Alejandro Ceballos, Vestex President, says the increase is due to 'the start of a recovery process in the U.S.
The first tower of Altia Communications Park will be opened in February.
Rubén Sorto is the marketing manager of Grupo Karim, developer of the project. He explained that in spite of the political crisis, several international companies are currently negotiating to operate from the park.
"The country has proper conditions for installing this brand of intelligent buildings, assures Sorto: it has the best fiber optics network of Central America at a low price, 410 bilingual schools ... that will provide the workers required by the corporations operating from Altia. ... Some 200 people are working almost 12 hours a day to make Altia a reality", reports Laprensahn.com.