PT Sri Rejeki Isman Tbk., (Sritex) received appreciation from the government after successfully completing restructuring with creditors to homologation. The Ministry of Industry assesses that Sritex has generated optimism in the textile industry, especially in the midst of a pandemic that has had a major impact on the business world. Minister of Industry Agus Gumiwang Kartasasmita said that the success of the restructuring to Sritex homologation was a breath of fresh air for the domestic textile industry. "We appreciate Sritex for its success in restructuring. This is a breath of fresh air for the textile industry in the country," said Minister of Industry Agus Gumiwang in his official statement, Thursday (10/2/2022)

Moreover, Sritex is one of the largest textile industries that is integrated from upstream to downstream.

"With the largest and most integrated textile products in Indonesia, the success of PT Sritex in facing this restructuring challenge also indicates the confidence of global stakeholders in the capabilities of the Indonesian textile industry," said Agus.

According to Minister Agus, the effect of Sritex's success in making peace with creditors has a wider positive impact.

"With the completion of the restructuring process, the textile industry deserves to be called a sunrise industry, not a sunset," he said again.

On the other hand, according to Agus Gumiwang, from Sritex's success, optimism for the labor-intensive sector is growing.

"As an export-oriented labor-intensive sector, we are optimistic that the national textile industry will continue to grow," said Agus.

Agus Gumiwang added, the government has also taken various steps so that the industrial world can survive during the pandemic.

"The government continues to maintain the investment and business climate of the textile industry through strategic policies. Both in the form of fiscal and non-fiscal incentives, to reduce the impact of the Covid-19 pandemic," he said.

Similarly, the Indonesian Textile Association (API) also responded positively to Sritex's achievements, which were considered to be a turning point for the industrial world in the midst of a pandemic.

"The turning point for the textile industry in 2022 will be marked by increased investment in the textile industry, which could reach US$900 million in the 2022-2023 period," said API Chair Jemmy Kartiwa Sastraatmadja.

According to him, the investment commitment of entrepreneurs shows confidence in the textile sector, and support from the banking sector.

"Because this indicates the creditors' confidence in the prospects for the textile industry in the future," he said.

 According to him, in the future the synergy between textile entrepreneurs can be even better.

"We hope that with the synergy and collaboration between textile entrepreneurs, this industry can rise even stronger towards national clothing resilience and independence," he added.