TAFL stands for Textile, Apparel, Footwear Leather. Ever wondered what it’s like to invest in this Industry, in a country with long-standing traditions in this field? Let us give you some facts about the TAFL industry in Moldova.
To start with, the industry started to develop after the Second World War. Since 1990, it was restructured nd modernized. Currently, there are over 680 companies that operate in the field. Most of them are medium and small enterprises, while 31 are classified as large companies.
Among the well-known companies that make their clothes in the Republic of Moldova are: Versace, Armani, Max & Co., NafNaf, Trussardi, Primark, Max Mara, Prada, Nike, Dolce & Gabbana, Moncler, Calvin Klein etc.
According to invest.gov.md, the government’s industry development strategy lists the textile industry as one of the key economic branches, given its significant advantages, such as:
- the possibility to employ a large number of employees in different activities of the branch;
- a relatively fast turnover cycle of current assets;
- moderate investment needs;
- a training system for employees.
Another notable fact to know is that 80% of the goods produced are meant for export in the European Union (with which Moldova has signed an association agreement in 2014), while the other 20% are produced for the internal, as well as CSI market.
Find more about investing in Moldova’s TAFL industry here.