Mauritius Textile And Garment Company Bankruptcy More Than 500 Unemployed
Due to the impact of the global financial crisis, the SOCOTA company of Mauritius recently announced the closure of the 500 local workers, which caused a great vibration in the country.
According to the analysis of the president of Mauritius Export Association, the closure of SOCOTO is a true portrayal of the current economic difficulties of the island. It is also said that if the situation is not improving significantly before February next year, the winter of the textile and garment industry in the country is coming. There may be more factories going on and on, announcing the closing down of factories or moving factories to Madagascar and other countries with lower production costs.
For this reason, he suggested that the government should implement a currency devaluation policy so as to promote exports and stimulate economic recovery.
Yang Jing: editor in charge
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