Govt to encourage FDI in textile sector: Gazi

The government will encourage foreign direct investment (FDI) in the country's textile sector, Textiles and Jute Minister Golam Dastagir Gazi said on Monday, according to a statement.

"The government has been taking (over) the textiles mills from their private entrepreneurs as the latter breached the key terms and conditions of privatisation," he said.

Many of the textiles mills have remained closed currently, he mentioned.

The mills are in the process of reopening through public-private partnership (PPP), he said.

"The government is working to achieve the $50 billion export earnings from the country's textile and clothing sector by 2021," said the minister, adding that they will attract inflow of FDI in the sector.

He made the remarks at a meeting with a visiting Mauritius business delegation at his Secretariat office in the capital on Monday.

Secretary of the ministry Mijanur Rahman, Managing Director of de la Compagnie Mauricienne de Textile (CMT) François Woo, were present during the meeting, among others.

The minister also said that enhancing productivity, creating employment and increasing export earnings and FDI are the main objectives of the government.

"That is why, textile policy 2017 and textile law 2018 have been enacted," he noted.

The Mauritius trade delegation expressed their willingness for business expansion in the country's jute and textile sectors.

They also discussed possibilities and ways to increase bilateral trades.

munni_fe@yahoo.com