Textile Industry: $20 Million Investment Announced
Friday, November 27, 2020
In Guatemala, a Korean business group plans to invest in the start-up of a fabric factory in the municipality of Villa Nueva.
The fabrics that will be manufactured in the new industrial plant will be specialized and will supply other factories in the region, informed authorities and businessmen of the sector.

According to directors of the Garment and Textile Commission (Vestex), Korean businessmen interested in investing have already visited industrial parks in the country to learn about the operations of other factories.

See "Clothing: Interest in Uniforms Downwards"

Prensalibre.com reviews that "... Executives of the company held meetings with the Vice Minister of Foreign Affairs, Shirley Aguilar, and with Rolando Paiz, commissioner of the National Competitiveness Program (Pronacom), to follow up on industrial investment."

Alejandro Ceballos, President of Vestex, said that "... with this announcement, the path of Korean investment in the sector is being resumed. This is a factory that will manufacture fabrics and that comes to reinforce Guatemala as a competitive country in the area of textiles and apparel in the region".

Also see "Formal Clothing: Trends in Central America"

David Juarez, vice president of the Korean Guatemalan Chamber of Commerce (Camcor), said that "... the plant will be installed in Villa Nueva is in the last administrative phase of reviewing contracts, legal registration procedures and warehouses, so it is expected that in the next few days the operation will begin."

Source: prensalibre.com
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Source: prensalibre.com
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Goods
Fabric fabrics
Key entities
National Competitiveness Program (Guatemala)Costume and Textiles Guatemalan Commission (Vestex)
Countries
Guatemala
Insight
textile plant industrial facility factory new factoryinvestment Investment Textile Industry
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Textile Industry
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Textile industry
industrial facility
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