Published 23 August 2024
St Kitts, Basseterre,
Buckie Got It Media Source
ST. KITTS AND NEVIS MOVES TOWARDS ESTABLISHING MAJOR TEXTILE FACTORY FOLLOWING MOU SIGNING
Basseterre, St. Kitts, August 23, 2024 (SKNIS): To revitalise the local manufacturing sector and protect jobs, a Memorandum of Understanding (MOU) has been signed to bring a major textile factory to St. Kitts and Nevis. The provisional agreement, which is subject to review by the government’s legal department, marks a significant step towards bolstering the nation’s industrial base.
The MOU was signed following discussions initiated during a visit by the Minister of Foreign Affairs, the Right Honourable Dr. Denzil Douglas to India, where a textile company expressed interest in establishing operations in the Federation. The company had become aware of the Minister’s travel to India and initiated talks to explore the possibilities of investment.
This development comes at a crucial time as the St. Kitts Brush Company Ltd is set to close within the next few months, leaving approximately 50 employees facing job loss. Since this information came to light, the government has been actively seeking alternatives to cushion the impact on these workers.
During the Foreign Affairs Press Conference on August 22, Minister Douglas, stated, “That is why I was so anxious to find a factory or two that would be able to replace those that we have lost and those that we are about to lose.”
In addition to this MOU, earlier discussions were held in Dubai with members of the Pakistan textile industry. The delegation expressed interest in evaluating the feasibility of setting up a textile factory in St. Kitts and Nevis. This potential collaboration stems from Pakistan’s current energy crisis, which has forced the closure of many textile operations in the country.
The establishment of a textile factory in St. Kitts and Nevis would serve as a timely response to these challenges, providing not only employment opportunities but also positioning the Federation as a viable hub for textile production in the region.
