The Philippine Textile Research Institute (PTRI) expresses confidence in the resilience of the textile industry despite the country's economic performance in 2024. PTRI Director Julius Leaño assures that the sector's supply chain remains robust and efficient, highlighting its evolution beyond its initial stages to become a vital part of the economy. The institute emphasizes ongoing investments in textile manufacturing for job creation and stability, and supports joint research initiatives. Sustained investment is crucial for both growth and long-term stability, according to Leaño.
AMID the challenges posed by the country’s economic performance in 2024, the Philippine Textile Research Institute remains confident in the strength of the textile industry.
While the country grew economically by only 5.2 percent, falling short of the 6 percent target, he emphasized that the sector has evolved beyond its early stages, maturing into a vital part of the economy. The textile institute also continues to back joint research initiatives, including those under the Department of Science Technology’s Joint Research Project for this year.Leaño further noted the importance of sustained investment to not only support growth but also to fortify the industry’s long-term stability.
TEXTILE INDUSTRY ECONOMY PHILIPPINES INVESTMENT SUSTAINABILITY
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