Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Bali's Rag Trade in Tatters
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Bali's Rag Trade in Tatters

Bali's Local Textile Association Report 15,000 Layoffs and Widespread Bankruptcies Following the 2005 Bali Bombing.


Bali News:
Click Image to Enlarge

(7/29/2006)

The downturn in the Balinese economy following the second Bali bombing on October 1, 2005, has had a disastrous effect on the Island's garment industry which, according to a report in the Indonesian-language Tempo Interaktif is near collapse. According to the report, of 120 businesses in the garment trade prior to the bombing 70 are bankrupt due to declining orders from both international and domestic customers.

"Our situation is critical," said the Chairman of the Indonesian Textile Association (API), Mahendra, who estimates that through July 2006 some 15,000 textile workers have lost their jobs. Moreover, according to the API Chairman, there have been no steps by the government to alleviate the situation.

Mahendra laments that the textile sector is burdened by high interest rates and the lack of any tax relief, despite the current depressed economy. This is in sharp contrast to the period following the 2000 bombing of the World Trade Center (WTC) when local government deregulated the textile sector and reduced interest rates in order help Bali garment operators survive and avoid mass layoffs.

Mahendra called on the government of Bali to take a more proactive role by lobbying Bank Indonesia and the general banking community to help to help correct the current situation.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

       

 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Territorial Dispute
Three Online Taxi Drivers Beaten at Bali’s Ngurah Rai Airport
(4/23/2017)
Qatar Airways Three Times a Day to Bali
Qatar Airways Launching Third Daily Direct Service Between Doha and Bali
(4/23/2017)
Swinging for Charities
World Cup Charity Golf Tournament at New Kuta Golf Club Saturday, May 20, 2017
(4/23/2017)
Strong Start for Foreign Arrival Figures for 2017
Bali by the Numbers Foreign Tourist Arrivals to Bali Up 25.95% for January-February 2017. Mainland Chinese Visitors Take a Commanding Lead in Bali Tourism.
(4/23/2017)
What? Fore!
Yak Magazine Golf Community Cup – Saturday, April 29, 2017
(4/23/2017)
Statuary Reef
Underwater Monument Garden Erected at Tejakula, North Bali
(4/23/2017)
Bali: Just Too Many Rooms
GIPI Official Says Continuing Oversupply of Rooms Reduces Average Occupancy at Bali Hotels to 35%
(4/23/2017)
For Your Bali Shopping List
5 Things to Buy During a Bali Holiday
(4/23/2017)
Fugitive Criminal Seeking an Escape
Chinese Criminal Attempts Suicide While Awaiting Extradition to China
(4/23/2017)
Kartini Hangs Ten
Female Surfers in Bali Celebrate Kartini Day by Wearing Sarong Kebayas
(4/23/2017)
Telling Bali You’re the Best
TripAdvisor Travels to Bali to Bestow ‘Best Destination’ Award on the Island
(4/22/2017)
Keeping a Closer Eye of Foreign Visitors
Denpasar Cracking Down on Foreigners Not Following the Immigration and Manpower Regulations
(4/21/2017)
All [News]!