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Tanzania next destination for investment in garment sector

YarnsandFibers News Bureau 2015-11-03 14:00:00 – Africa

Tanzania to be the next destination in Africa for investment as it offers friendly business environment underwritten by good investment policy and legislation as well as geographic location that makes her as a natural regional business hub.

Tanzania Investment Centre (TIC) and the Ministry of Industry and Trade’s Textile Development Unit co-hosted the visiting investors to encourage them to consider Tanzania as new garment origin.

TIC, according to a statement issued in Dar es Salaam yesterday, described the sizeable market of 48 million people, availability of raw materials, availability of semi-skilled and skilled labour as great incentives for investment.

A TEAM from VF Corp’s Hong Kong sourcing office is currently visiting Africa and was in Dar es Salaam last Sunday. The team included the Managing Director of product supply, Vice-President of Sourcing, Merchandising director and the strategic engineer based in Tanzania.

VF Corporation established in 1899, is a global leader in branded lifestyle apparel, footwear and accessories, with over 30 brands, 60,000 associates and 12.3 billion US dollars in revenue.

Their businesses and brands are organized into five categories called coalitions, comprising: outdoor & action sports, Jeans wear, image wear, sportswear and contemporary brands. While VF is highly diversified across brands, products, distribution channels and geographies, their culture and approach to doing business provides unique and powerful competitive advantage. Their brands include: Wrangler, Lee Jeans and Nautica amongst many others.

VFC has an exemplary record of ethical and environmentally-sound sourcing in both its own factories in the Caribbean and also with its subcontractors.

Currently VF Corporation is placing orders in one factory in Tanzania and is considering expanding their purchasing from other sewing factories in the country.

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