Investment in Brazil’s textile industry will increase by %
According to estimates from the Brazilian Textile Industry Association (Abit), the industry will increase investment in 2019, growing by 25% compared with 2018. In 2018, the investment amount in this industry was US$2.4 billion, and it is expected to reach US$3 billion in 2019.
According to Fernando Pimentel, president of the association, most investments are used to promote enterprise modernization and efficiency improvements. There are some corporate departments or manufacturers in the industry implementing expansion plans, but there is still a lot of idle production capacity. If the government passes reform measures such as social welfare benefits, the industry is expected to grow by 3% this year, and the retail industry is expected to grow by nearly 4%.
Edmundo Lima, CEO of ABVTex, a large fashion network company, said that this year the retail industry has greater willingness to support store openings and carry out structural reforms. The company has been pursuing operating profits in the past three years, and the structure is still quite insufficient. Therefore, investment should be expected to be higher in 2019 as consumption recovers.
AAA fabric network SDFWERTEYRHF
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