The groundbreaking ceremony for the China-Africa Textile Co., Ltd. project was held on the 19th in Salima, about 100 kilometers away from the Malawi capital Lilongwe. Malawi President Mutharika attended the ceremony and praised the project for promoting Malawi’s industrialization process. .
“We have been working hard to increase the added value of products and transform Malawi from a consumption-importing country to a production-exporting country.” Mutharika said in his speech that the establishment of this textile company will help Malawi Malawi textiles will be exported to the international market and will create a large number of jobs and improve the living standards of rural residents in Malawi.
Wang Shiting, Chinese Ambassador to Malawi, said that the establishment of China-Africa Textile Co., Ltd. will increase the added value of Malawi cotton, improve the living standards of local people, and inject “new momentum” into the rapid development of Malawi’s manufacturing industry. A successful example of China and Malaysia working together to achieve win-win cooperation.
China-Africa Textile Co., Ltd. is jointly invested and constructed by China-Africa Cotton Development Co., Ltd. and Tianjin Tianfang Investment Holding Co., Ltd. The total investment of the project is approximately US$80 million, and it is planned to build a spinning mill, a weaving factory and a towel factory.
Malawi is an important cotton exporter in Africa. Due to the low level of industrial development, Malawi cotton is mostly exported directly in the form of primary products with low added value. The Malawi government is eager to improve the level of the cotton spinning industry to increase foreign exchange earnings and improve the shortage of foreign exchange. (Title: China-Africa Textile Project Promotes Malawi’s Industrialization Process)
AAA Functional Fabric Network SVSGHRUTO
