Mauritius Textile Industry Will Face Multiple Shocks In The Next 18 Months.
Although the textile industry in Mauritius has experienced a great improvement in 2006 and 2007 after four years of recession, Hu Shuixiu, President of CMT, the largest textile enterprise in Mauritius, recently said that the national textile industry will still face multiple shocks in the next 18 months, including the rise of rupee, the decline in purchasing power in the European market, the rise in prices of cotton, pportation, fuel, electricity and wages, and the worldwide economic recession.
Due to overburdened, in the past three weeks, 3 textile enterprises have gone bankrupt.
In order to find new economic growth points, some textile enterprises have invested funds in the hotel industry, the financial industry and the information and communication industry.
Danielle Wong, chairman of the association of wool exporters, also said that in order to meet the challenges, Mao's textile industry must enhance its competitiveness and build an efficient logistics industry that is suitable for Daniel.
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