Singapore`s Textile and Fashion Federation announced Tuesday several projects worth 11 million Singapore dollars (about 7 million U.S. dollars) in a bid to boost the development of the industry.
According to a press release by the International Enterprise Singapore (IE Singapore), the city state`s external economy promotion agency, key projects include the establishment of a Productivity and Design Development Center and attracting more buyers to the annual Singapore Fashion Week.
Scheduled to be implemented over the next three years, the projects aim to help local companies in the industry enhance productivity and design capabilities, shorten production lead time and penetrate overseas markets.
It is expected that the projects, when fully realized by 2009, will add 400 million Singapore dollars (about 246 million U.S. dollars) in the industry`s combined revenue to the current estimated 4.5 billion Singapore dollars (about 2.8 billion U.S. dollars) and generate an additional 105 million Singapore dollars (about 65 million U.S. dollars) in value add.
