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
Indonesian Made Grills Considered the World’s Best BBQ
American Expat Dennis Linkletter Runs Company Making What is widely Considered the World’s Best BBQ Grill and Smoker in Bali
(8/21/2017)
Films on the Beach at Nusa Dua
Saturday Night at the Movies on the Beach at Ayodya Resort Bali with ‘Rocky Horror Picture Show’ - August 26th and M*A*S*H - September 2, 2017
(8/20/2017)
One Dead when Bus Plunges into National Park
One Dies in Inter-Provincial Bus Accident Near Bali Port of Gilimanuk
(8/20/2017)
Hyping the News on Property
‘The Australian’ Writing on Booming Bali Real Estate Market Dangerously Misleads Foreigners Looking to Purchase Property in Bali
(8/20/2017)
On the Beach an Orchestra’s Playing
Padma Resort Ubud and Padma Resort Legian Present the Jakarta Concert Orchestra September 2nd and 3rd 2017
(8/20/2017)
Marching for Country, Island, and Community
Sanur Community Stage Independence Day Torch-lit Parade to Protest Benoa Bay Reclamation
(8/20/2017)
Seeking to be of Service to India
Bali Discovery Now Represented in the Indian Market by Eazee Connect Respz in Mumbai
(8/20/2017)
A Recipe for Brat-Worse
Prosecutors Seeking Sentence Review and Harsher Sentence for Son of Bali Legislator Convicted of Murder
(8/20/2017)
Eliminating Dirty Cops
Bali Chief of Police Urges Execution on Site of Policemen Found Involved in Narcotics Trade
(8/20/2017)
Oh, Yes, Calcutta
Bali to Calcutta Flights by AirAsia Confirmed to Start on October 1, 2017
(8/20/2017)
Register to Swim, Run, and Cycle in Bali
Herbalife Bali International Triathlon Returns to Bali October 15, 2017
(8/20/2017)
Sekali Merdeka! Tetap Merdeka!
Passengers at Bali’s Airport Included in Indonesian Independence Day Celebrations on August 17-18, 2017
(8/20/2017)
All [News]!