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Philippine government to support modernisation of textile companies

31/08/2018
The Philippine Department of Trade and Industry (DTI) is exploring ways to revive the country’s garment and textile industry with a view to generating more employment and meeting the government’s targets for economic growth, according to reports in local media. 

During the recent Philippine Leather, Garment Industry and Fabric Expo, which took place in Pasay City from August 23-26, trade secretary Ramon Lopez told reporters that the government is offering incentives to garment and textile companies that want to modernise their operations by investing in new equipment and production technologies. 

He added that the Philippine government is also inviting textile makers from China and India to establish production facilities in the country. He cited denim and cotton as two areas that could be profitable for overseas investors due to local demand for these materials. 

Mr Lopez also discussed the possibility of a free-trade agreement with the US. He said the government hopes for lower or zero tariffs on garments imported into the US from the Philippines. 

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