Vlisco Group signs MoU to invest in CTG sector with FG of Nigeria

YarnsandFibers News Bureau 2015-01-23 18:00:00 – Nigeria

Vlisco Group, Dutch textile and design company has signed a Memorandum of Understanding, MoU with the Federal Government of Nigeria to create a platform for significant expansion in Nigeria's economy. Vlisco Group to invest in Nigeria and contribute to the building of a vibrant Cotton, Textile and Garment (CTG) sector.

Speaking at the signing ceremony, Hans Ouwendijk, CEO of Vlisco Group commended the Nigerian Government for its focus on revitalising this critical sector. The MVlisco Group's activities are expected to generate more than 10,000 jobs in Nigeria in the medium term. MoU is expected to yield benefits for the Nigerian economy in terms of economic diversification and job creation in line with the Government's Industrial Revolution strategy.

Nigeria is Africa's largest consumer market and the opportunity to fully deploy their brands and business models in Nigeria provides a major boost to their growth ambition.

The MoU detailed wide-ranging collaboration and support. Vlisco Group intends to offer Nigeria's 188m consumers it's four brands (Woodin, Vlisco, Uniwax and GTP). The Group will participate across the sector value chain from sourcing of cotton, textile printing, wholesale, retail and e-commerce distribution, garment manufacturing and supporting and promoting Nigerian fashion designers.

Minster of Industry, Trade and Investment, Olusegun Aganga, commenting on the MoU stated that the Government of Nigeria is delighted to welcome this investment and partnership from the Vlisco Group into Nigeria.

The Nigerian government in December 2014 approved a major revitalisation and reform of its Cotton, Textiles and Garment (CTG) sector which will catalyse growth and jobs in Nigeria across the entire value-chain from cotton to fashion.

They are determined to rebuild this historically important sector with its job creation impact across the entire value chain from cotton fields to fashion. They are looking forward to implementing this strategic partnership with the Vlisco Group.

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