The Botswana Government'S Textile Industry Stimulus Plan Has Achieved Initial Success.
The economic stimulus plan of the 38 million PRA textile industry launched by the government early this year has achieved initial success.
44 enterprises at present
benefit
To achieve 2831 jobs.
The Ministry of trade and industry indicated that 11 of the 44 enterprises are large enterprises and 7 are
Medium-sized enterprise
19 are small businesses and 1 are micro enterprises.
The Ministry of trade and industry is committed to extending the scope of the textile industry to all cities, towns and villages.
In 2009, Bo textile industry was seriously affected by the financial crisis, thousands of workers lost their jobs, and some factories closed down.
textile industry
Income dropped sharply.
Before the crisis, the textile industry was the main export product of the Bo Fei mining industry. According to the statistics of the Central Bureau of statistics, the export volume was 2 billion 700 million PRA in 2007, 1 billion 800 million PRH in 2008 and 1 billion 400 million PRA in 2009.
Although the recovery of the textile industry is still far below the pre crisis level, the government hopes to build up the textile industry through this plan and look forward to an increase in exports next year.
Initially, the scheme only applies to enterprises and domestic workers owned by its citizens, through the provision of financial support for enterprises that re employ their citizens, subsidies for workers who are once again employed, and government guaranteed loans for capital turnover and renewal of machinery and equipment.
After deliberation, the present guarantee is also applicable to enterprises owned by non citizens.
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