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Indonesia TPT industry needs fresh investments: Secretary General, Apsyfi

  

Redma Gita Wiraswasta, Secretary General, Indonesian Association of Fiber and Filament Yarn Producers (Apsyfi) has called for fresh investment in Indonesian textile and textile product (TPT) industry. Currently, this investment is hampered by trade regulations that favor imported products, she said in an Indo Textiles report.

Investment will help boost fabric finishing and fabric manufacturing capacities, she added. Apsyfi believes, to catch up with growth in consumption of textile industry, the fabric sector needs to increase its finishing capacity and rejuvenate fabric-making machines by around one million tons with a total investment of $600 million. Meanwhile, the production of yarn and fiber need to be increased by 500 thousand tonne by 2022 and requires an investment of around $ 400 million.

Wiraswast opines, import substitution target set by the Ministry of Industry alone cannot be fully supported by the Ministry of Trade. The domestic market is still filled with imported goods sold online. Small and Medium Industry (IKM), especially garment IKM (convection) is very depressed because they are directly dealing with imported goods online, she says.

She admits, this year Apsyfi is pessimistic about the prospects for the textile business as the industry requires government commitment to guarantee the domestic market.

 
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