Ukraine planning big for development of technical textile sector

by Apparel Resources News-Desk

24-May-2019  |  1 min read

Ukraine Garment Industry
Image Courtesy: dai.com

Close on the heels of Russia’s reported plans to make heavy investments in the development of technical textiles, Ukraine has drawn up plans to attract up to US $ 300 million of investments in the development of the domestic technical textiles and nonwovens industry in the next several years.

This was confirmed by the Ukrainian Cabinet of Ministers, while talking to the media.

According to Ukrainian Prime Minister Vladimir Groysman, the majority of funds for the implementation of these plans will be provided by private domestic and foreign investors, while the remaining will be allocated from the state sources.

According to the Ukrainian Ministry of Industry and Infrastructure, the majority of allocated funds will be used for the establishment of production facilities, specialising in the production of technical textiles and end products, to be located in different parts of the country.

It may be mentioned here that, from 2019-2021, up to US $ 300 million will be invested in the establishment of at least 5 to 6 large- and medium-sized enterprises. To support the investments strategy, the Ukrainian Government has also announced its intention to provide investors with significant stakes in the newly established enterprises.

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