By  on June 25, 2014

GENEVA — Greenfield investments in the global textile and apparel industry, spearheaded by major outlays in the retail segments in key markets such as the U.S. and China, posted a sharp rise in 2013 to reach a historic high in excess of $24 billion, more than twice the 2012 level, a United Nations report said.

New investment projects in the textile and apparel retail businesses globally totaled $17.7 billion, while new investments in textile and apparel manufacturing reached $4.5 billion, while logistics, distribution and transportation came in at just over $1 billion, according to the U.N. Conference on Trade and Development’s “World Investment Report, 2014.” Greenfield is a form of foreign direct investment where a parent company starts a new venture in a foreign country by constructing new operational facilities from the ground up. In addition to building new facilities, most parent companies also create new long-term jobs in the foreign country by hiring new employees.

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