VF Corporation, a global leader in branded lifestyle apparel, footwear and accessories, has explored opportunities for investment in Tanzanian garment sector.
A team from VF Corporation’s Hong Kong sourcing office visited Tanzania this week, according to media reports in Tanzania. The visitors were co-hosted by the Tanzania Investment Centre (TIC) and the Textile Development Unit of the Ministry of Industry and Trade.
Tanzania offers business-friendly environment, has good investment policy and legislation in place, and has a favourable geographical location—which makes the country a natural regional business hub, TIC officials told the visitors, according to a statement.
The sizeable market of 48 million people, and availability of raw materials as well as semi-skilled and skilled labour act as incentives for investment, the officials said.
VF Corporation already sources its garments from one factory in Tanzania, and is also planning to buy from other clothing factories in the East African nation. (RKS)
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