The Indonesian Filament Yarn Producers Association (APSyFI) has reported that several sectors in the country's textile industry, particularly in the polyester supply chain, are struggling. APSyFI Chairman, Redma Gita Wirawasta blamed unsupportive business regulations for the delay and suggested that the changeable regulatory environment is keeping potential investors at bay. He argued that long-term regulatory certainty in the domestic market is necessary for investors to ensure business continuity. Minister of Industry, Agus Gumiwang Kartasasmita stated that the domestic fashion industry is expected to grow in the coming years, albeit at a rate below the country's typical GDP growth of 5%. The industry is projected to grow at an average rate of 4.26 percent annually until 2029, with a market value reaching US$9.6 billion. The industry currently provides jobs for 1.6 million workers nationwide. The Indonesian Textiles and Textile Products (TPT) industry has performed well over the last two months, with a year-on-year growth of 2.64 percent. However, the industry's export value rose only 0.19 percent year over year to $2.95 billion in the first quarter of 2024, underscoring the importance of the domestic market for businesses in the sector.Link di fonte: https://www.thejakartapost.com/business/2024/06/10/textile-industry-demands-more-supportive-regulations.html (ICE GIACARTA)

Fonte notizia: The Jakarta Post, 10 June 2024