Chinese Textile Companies Seek to Set up Factories in Bulgaria
Chinese companies are willing to set up textile manufacturing units in Bulgaria, according to media reports.
Businessmen from Shaoxing have inspected various sites in Bulgaria’s Black Sea city of Burgas for the potential construction of a textile factory and a showroom, Fibre2fashion reports.
The investors from Shaoxing are reportedly looking to rent plots of land at two places – the hi-tech park in Bulgarovo village and the industrial and logistics park in Burgas.
Burgas mayor Dimiter Nikolov said the city has high potential and it can serve as a big production centre for the Chinese textiles.
With a population of around five million, Shaoxing city located in Zhejiang province of China has a highly developed textiles industry, famous for manufacturing of socks, shawls and neckties.
Chinese textile entrepreneurs are currently exploring other countires for relocation of their manufacturing set up in view of the rising labour and production costs in the country, Fibre2fashion reminds.
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So it is getting too expensive for China to manufacture socks, shawls and neckties in China? And they want to establish textile industry/sweatshops in Bulgaria. What does that tell us? If they cannot manufacture profitably in China with their massive population and workforce, there must be a serious problem. One would think that they have enough millions of hungry and unemployed people of their own to look after.