April 20, 2024
Industrials
Textiles industry to go under the knife in 2017
[THE INVESTOR] A government-led plan to update the country’s textiles industry will be rolled out next year, local media reported on Dec. 26.
According to reports, the government will draw up plans for strengthening the textiles industry’s competitiveness as part of its industrial reform plans. The government has been rolling out measures for shoring up industries suffering from oversupply, including the shipbuilding, steel and petrochemicals industries.
Reports citing an unnamed official said that the government could draw up related plans sometime during the first half of next year. Measures included in the plans range from aiding restructuring efforts and supporting the development of new products.
The textiles industry had once been a major contributor to the country’s economy but has been outmatched by Chinese rivals.
By Choi He-suk (cheesuk@heraldcorp.com)
According to reports, the government will draw up plans for strengthening the textiles industry’s competitiveness as part of its industrial reform plans. The government has been rolling out measures for shoring up industries suffering from oversupply, including the shipbuilding, steel and petrochemicals industries.
Reports citing an unnamed official said that the government could draw up related plans sometime during the first half of next year. Measures included in the plans range from aiding restructuring efforts and supporting the development of new products.
The textiles industry had once been a major contributor to the country’s economy but has been outmatched by Chinese rivals.
By Choi He-suk (cheesuk@heraldcorp.com)
