Indonesia Intends To Invest In One Hundred Billion Rupiah For Textile Equipment Renewal

According to the media reports, Saleh Husin, Indonesia's Ministry of industry, said that in order to promote textile, Leatherwear And the footwear industry has grown 3 times its output value in 2019. The Department has allocated seven years' budget to assist the manufacturers in upgrading machinery and equipment. To further drive manufacturers to invest in equipment, the Ministry has set up a 100 billion rupiah (US $7 million 900 thousand) in the current (2015) budget to assist textile manufacturers to replace machinery and equipment so as to enhance industrial productivity. It is estimated that this year (2015) will drive manufacturers to invest in 1 Mega equipment to upgrade equipment, and achieve the goal of 270 trillion Indonesian shield investment in non oil and gas industry this year. The Ministry of industry also invited relevant manufacturers to apply to the Ministry by the end of June.

According to the Ministry of industry data, the Ministry has invested 1 trillion and 180 billion Indonesian shield funds to help manufacturers replace their production equipment from 2007 to 2014, and has led manufacturers to invest in the 14 trillion and 840 billion rupiah to upgrade their equipment and to replace 1 million 880 thousand machinery and equipment. However, there are still 3 million 660 thousand old machinery in Indonesia's textile related industries that need upgrading, mainly including 6 machines, looms, knitting machines and footwear. The Indonesian textile association (API) said that the government continued to help. Spin Thanks to the development of the industry, it is suggested that the government should continue to sign free trade agreements to enhance Indonesia. Spin Export competitiveness of products.