Millionaire investment in paraguayan textile industry

By Magali Rodriguez – Alcalá

The renowned Brazilian companies Altair, Tendencia Malharia y Funny Honey have executed an industrialization alliance with the Paraguayan Company Blue Desing whose purpose will generate an investment of U$D. 8.500.000 in favor of the textile industry in Paraguay. The abovementioned companies will settle and operate in Paraguay together with Blue Desing benefiting from all offered by the business climate in Paraguay.

The future industrial facility looks to centralizing the confection of clothing such as jeans, shorts, shirts and bathing suites. The foreign companies will operate in the area of San Lorenzo, in a space of 16,000 where all industrial plants will be established. Moreover, new textile machinery has been purchased from Japan, USA, Italy, Germany and China and is expected to arrive soon to mount the new site.

Blue Desing´s representative has reported that the facility currently employs 400 people. It is expected that with the establishment of Altair, Tendencia Malharia y Funny Honey approximately 1,000 job sources will be created in 2012.

This new investment is one of the many examples that demonstrate that Paraguay´s friendly legal regime, in terms of investment, and growing economy has and will keep attracting foreign capital to our country.