Burkina Faso: The endogenous development process is underway in the land of honest People
The endogenous development process desired by the authorities of Burkina Faso is underway, progressively moving towards a structural and radical transformation of the national economy. This process is marked by the creation of various structures for the local transformation of local products.
This endogenous development project to establish a mixed economy company specializing in the local production of military and paramilitary clothing products is being added to those already executed and those currently underway. This new project, involving the establishment of a factory for the local transformation of the country’s raw materials, was approved on Wednesday, February 7th, by the Council of Ministers.
Under the presidency of the head of state, Captain Ibrahim TRAORE, the Council of Ministers adopted the decree project authorizing the creation and operation of this company. Its mission will be to manufacture military and paramilitary uniforms, as well as those for private industrial structures and professional establishments.
According to the council, the mixed economy company, with a capital of ten million (10.000.000) CFA francs, will have majority participation from the state. It will be located in the Hauts Bassins region, precisely in Bobo-Dioulasso, with a construction cost estimated at fifteen billion (15.000.000.000) CFA francs.
The clothing production will be carried out on a large scale using cotton produced by Burkina Faso. It should be noted that the Council of Ministers has also authorized the Burkina Faso Textile Fibers Company (SOFITEX) to participate in the share capital of « IROTEX Burkina », a new industrial structure created for the industrial transformation of cotton.
The vision for socioeconomic development transition is thus gradually taking shape, for the fulfillment and happiness of the Burkinabe people. Unwavering support from the population for this vision is therefore essential.
