According to Dominican Textile Industries Association (ADITEX) president David Cortes, textile exports from Dominican Republic are expected to increase and inject RD$700 million into the country’s economy, mainly due to the funding facilities and training support that the sector will receive from the National Export Development Bank, which is expected to be operational in June 2014.
Cortes praised the government’s decision to turn the National Housing and Production Development Bank (BNV) into a financial entity specializing in export development. The National Export Development Bank, once operational, is expected to facilitate exports by the textile sector of the country.
The bank will be essential to developing competitiveness, generating more employment and foreign exchange for the country, he added.
According to Cortes, the financial facilities received from the bank could be utilized by the enterprises operating in the sector to introduce training facilities and expand production centers for manufacturing high-quality textile products that could be exported.
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