More and more light industry enterprises in Moldova launch own brands

About 100 firms from Moldova, Russia, Ukraine and Turkey are participating in the 10th Black Sea Letex Exhibition inaugurated on Thursday at Moldexpo, Info-Prim Neo reports. Moldovan Deputy Economy Minister Ilarion Popa said in his launching speech that this exhibition has become a true business forum, where the participants can learn about the range of products, technologies, price monitoring techniques of the companies dealing in the light industry and related branches and where they have the opportunity to promote their innovations. Olga Badanov, department head at the Ministry of Economy, remarked that the Moldovan light industry enterprises survived after the collapse of the old economic system due to outsourcing arrangements. “Their profits were modest, standing at 8% of the value of the delivered consignments, meaning they were paid for the sewing alone. While this money was insufficient for investment in production development, it was enough to keep a great part of the employees, who accumulated experience and learned the quality standards of the European clients. But today many of them have launched own brands. We can see them in the shop windows of such companies as Ionel, Steaua-Reds, Infinity INC, Tricon, Iuvas, or Vasconi”, said Olga Badanov. The organizers of the exhibition are the Ministry of Economy and the Culture Foundation ArtPodium.