Taiwan's Large Textile Mills Have Fully Divestment Of Nicaragua To Mainland China Or Vietnam.

According to the Mexico news agency, Taiwan authorities "friendly" Nicaragua President Otiga announced on 22 th that the Taiwan nixing Textile Group has decided to close its business in Nicaragua and pfer the factory to mainland China or Vietnam.

Otiga, who attended the opening ceremony of InternationalTextil Group's plant in Santo Town, mango District, Nicaragua, said that foreign investment was a long-term interest.

Central News Agency reported that Otiga said early last year that he did not rule out some unwilling to raise wages in Taiwan manufacturers may choose to move to mainland China for economic reasons.

Nicaragua media also reported last year about the news of nixing textile that the Nigerian investment environment is not good enough to consider evacuating. At that time, Otiga responded specifically to the content of the report.

On the other hand, Nian Xing announced last week that it will close the 8 factories currently operating in manago.

Last year, a cadre interviewed by the Miami forward Tribune last year, referring to some difficulties faced by the processing export area, said that divestment was one of the possible options for Nian Xing to consider.

In 1990, when the first term of President Otiga ended, he began to set up factories in the processing export area of Nicaragua, and became the first textile factory in Nigeria processing export area.

Nigeria's processing export area created 90 thousand jobs for Nigeria, with exports amounting to US $800 million last year and estimated US $1 billion 150 million this year. Most of the investment in textile industry in processing export areas is from Taiwan, Korea and the United States.