Business Centre Corporation (BCC) has decided to seek potential investors to develop the Garment Factory in Addu City, next week. BCC has completed the first phase of the developmental project and is now prepared to commence the practical works.
While BCC revealed that the opportunities for interested parties to submit their Expression of Interest (EoI) next week, it stated that the project will be opened for investors in a joint venture policy, contractor finance policy and public private partnership policy. The corporation revealed that a consultant had been sent to Addu City, to finalise preparations to commence the practical works of the project.
Providing insight on the project, Managing Director of BCC Ibrahim Ziyau stated that the development of the Garment Factory will provide several opportunities to individuals involved in industrial sewing. Ziyau said that the factory will provide greater market access and opportunities to small and medium enterprises (SMEs) in the industry, noting that this was a goal of the corporation. Reducing the dependency on imported clothing material is also an objective of this initiative.
BCC signed an agreement with Addu City Council to allocate land for the development of the Garment Factory, on June 9. Under the agreement, a 30,000 square foot land was leased to BCC. The garment factory, spearheaded by the economic ministry, is expected to benefit Addu City and the national economy, driving industrial development and enhancing economic growth both locally and nationally.