Indonesian Textile Sector Attracted Investment of About Us$ 155 Million in 2013

The textile sector in Indonesia is likely to attract investment of about US$ 155 million in 2013, according to Indonesian Textile Association (API).
 
Most of the investment in the textile sector would be for purchase of new machinery and equipment, API Chairman Ade Sudrajat was quoted as saying by the Antara news agency, Xinhua reported.
 
Mr. Sudrajat said most of the textile machinery purchase would be done by domestic players. He said foreign investors only spent Rp 500 billion of the total Rp 2.3 trillion spent on textile machinery purchase in 2012.
 
He said that Indonesia’s textile and apparel exports may see a slowdown this year due to the 15 percent hike in power tariff from beginning of this year and the Government’s new customs policy.