Adeo­sun, For­eign In­vestor Hold Talks on Tex­tile In­dus­try

THISDAY - - BUSINESS/ MONEYGUIDE - Obinna Chima

Dutch tex­tile and de­sign com­pany, Vlisco Group yes­ter­day held a high-level dis­cus­sion with the Min­is­ter of Fi­nance, Mrs. Kemi Adeo­sun, over the for­mer’s pro­posed in­vest­ment in the Nige­rian cot­ton tex­tile in­dus­try.

The Chief Ex­ec­u­tive Of­fi­cer of Vlisco Group, Mr. David Sud­dens, who led the group’s del­e­ga­tion to the meet­ing with the min­is­ter, said the in­vest­ment would boost growth and jobs in Nige­ria across the en­tire val­uechain from cot­ton to fash­ion.

The Group plan to in­vest across the sec­tor’s value chain from sourc­ing of cot­ton, tex­tile print­ing, whole­sale, re­tail and ecom­merce dis­tri­bu­tion, gar­ment man­u­fac­tur­ing and supporting and train­ing of Nige­rian fash­ion de­sign­ers.

Sud­dens said: “Vlisco fore­sees an end-to-end in­volve­ment in the Nige­rian tex­tile in­dus­try from cot­ton sourc­ing to re­tail. We are ex­pect­ing this in­vest­ment to yield ben­e­fits for the Nige­rian econ­omy in terms of eco­nomic di­ver­si­fi­ca­tion and job cre­ation in line with the coun­try’s In­dus­trial Revo­lu­tion strat­egy.

“Vlisco Group’s ac­tiv­i­ties are ex­pected to gen­er­ate more than 10,000 jobs in Nige­ria in the medium term. We also en­vis­age a Vlisco print­ing fac­tory in Nige­ria us­ing Nige­rian de­signs for the Nige­rian con­sumer, re­tail out­lets sell­ing Vlisco prod­ucts and trained tai­lors sewing Vlisco fab­ric into garmet.”

Sud­dens fur­ther noted that the group had formed part­ner­ship with two spin­ning and weav­ing com­pa­nies based in China and Pak­istan in order to help build the Nige­rian cot­ton tex­tile in­dus­try.

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