Zimbabwe: Printing, Textile Industry Set for Major Boom

Source from:  The Herald (Harare) April 19, 2006 04/20/2006

ZIMBABWE'S printing and textile industry is set for a major boom as a number of foreign investors, mostly from Asia, have expressed interest in joint partnerships with local companies in multi-billion-dollar paper recycling and cotton producing projects. Companies from Malaysia have shown interest in the printing and textile sector although details and the names of the potential investors are still to be made public. With growing emphasis being put on the need to develop export-oriented business operations, the successful conclusion of the deals could see the country earning billions of dollars from exports. According to Dezign Incorporated managing director and Business Network International local co-ordinator Mr Laputa Hwamiridza, there is growing demand for local textile and paper products in the Asian region. Dezign Incorporated is a local textile manufacturing company with a strong export base. Mr Hwamiridza, whose company has over the years significantly grown its exports to the region, said other Asian countries, notably Indonesia and India, over the past few months reaffirmed their commitment to forge partnerships with local companies. The Asians are said to be keen on locally produced natural cotton as there is growi ng disenchantment over the use of synthetic cotton in most European and Asian countries. "Ever since last year's International Cotton Conference, there has been a sharp decline in demand for synthetic cotton and these companies are keen to partner us so as to ensure a constant supply of natural cotton. "Zimbabwe is among the leading cotton producers in the world and these proposed partnership agreements, if successfully concluded, will see cotton overtaking tobacco as the country's leading foreign currency earner," said Mr Hwamiridza. He was, however , quick to say that the "pessimistic" attitude of some local business people was retarding ongoing efforts to turn around the country's economy. "The central bank governor, Dr Gideon Gono, has always called for a more positive attitude from the local business sector but that advice seems to have fallen on deaf ears. "That pessimistic attitude may see us losing these lucrative deals from Asia to other cotton-producing countries i n the region as we are taking time to seal these agreements," warned the industrialist. "Goals are achieved not because things are easy but because of a great determination and resolve to make things happen." Enditem