Textile: U.S. firm Charles Komar & Sons to spend $25M to set up an apparel factory in Togo

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Saturday, 04 November 2023 16:02

Textile: U.S. firm Charles Komar & Sons to spend $25M to set up an apparel factory in Togo

(Togo First) - Charles Komar & Sons, the U.S. textile giant, should soon launch operations in Togo, at the Industrial Platform of Adetikope (PIA). The American firm will operate via its Sri Lankan subsidiary and cloth maker, Star Garments Group (SGG).

The firm plans to start building a factory at the PIA before the year ends. The plant, a cut-make-trim or CMT unit, aims to boost the production of ready-to-wear garments, including dresses, blouses, and children's clothing, for export to international retailers.

The total cost of the project is estimated at $25 million. The International Finance Corporation should back it with a $15 million loan.

According to Star Garments Group, the factory will be built over 3.7 hectares and create around 2,000 jobs.

"The Star Garments Group plant is expected to have a variety of positive economy-wide effects, including national and regional value-added, resulting from increased exports through the expansion of CMT's operations and the direct creation of 2,000 formal manufacturing jobs, mainly for women, and a greater number of indirect jobs," said the IFC.

The Washington-based institution, it is worth mentioning, has positioned itself to support the deployment of the AIP, through its management company ARISE IIP, which is negotiating support of up to Є250 million for its activities in several countries, including Togo.

Ayi Renaud Dossavi

REFORMS OVERVIEW

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At the fifteenth position, worldwide, and first in Africa, under the Starting a Business index of the 2020 Doing Business ranking, Togo sustains its reformative dynamics with more reforms….

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Compared to some years ago when it was one of the lowest rankers under the Doing Business’ Enforcing Contracts indicator, Togo, leveraging many efforts to improve its business climate, was able to jump significantly on the index in the recent years... .

CONTRACT EXECUTION (more info)

Creation of special chambers of commerce for small debts • Creation of chambers of commerce at the Court of Appeal • Civil and commercial cases now handled by distinct clerks • Establishment of commercial courts in Lomé and Kara • Lawyers and bailiffs now have access to the FORSETI COMMERCIAL platform • A maximum period of 100 days was fixed to settle a commercial dispute .

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In comparison to previous years,Togo has significantly improved its ranking under the“Trading across borders” indicator by adopting multiple reforms that focus mainly on the digitization and reduction in delays, for import and export procedures related to import and export.

In comparison to previous years, Togo has significantly improved its ranking on the “Trading across borders” index by adopting multiple reforms that focus mainly on the digitalization and reduction in delays, for import and export procedures related to import and export.

CONSTRUCTION PERMIT (more info)

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PUBLIC PROCUREMENT (more info)

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PAYING TAXES AND DUTIES (more info)

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