Home / Knowledge / News / Industrial / Chinese textile firms continue to invest in Ethiopia
Chinese textile firms continue to invest in Ethiopia
13
Feb '17
Few large Chinese companies, including textile and garment manufacturing industries, have decided to invest in Ethiopia in the first half of the current Ethiopian budget year. The investment has come after the Ethiopian Investment Commission (EIC) started according priority to large, effective companies that can offer more and quick employment.

Following the new strategy, Ethiopia has managed to attract investment from ten large Chinese companies, according to EIC commissioner Fitsum Arega. About half of these are in textile and apparel manufacturing, and this includes Jiangsu Sunshine Group, which has decided to invest nearly $1 billion in Ethiopia.

The decision by the Chinese companies to invest in Ethiopia clearly shows that the East African nation has continued to become a favourable investment destination, Arega told Ethiopian news agency.

Speaking on the change in EIC’s strategy in attracting foreign investment, Arega said, “The ongoing direction is not focusing on increasing number of participants coming in the name of investors. Rather the country prioritised attracting some but large, effective companies which can meet the targets of both the company and the country.”

Competitive wages, trainable workforce, ongoing infrastructure development, fast growing economy, government support and favourable investment climate are among the factors that attract large companies to invest in Ethiopia.

“We recommend any investor worldwide to invest in Ethiopia because of its economic, political, and social stability, which is enthused by incredible government commitment and incentives towards the textile sector,” says Osman Basoglu, general manager of Etur Textile Plc, a part of Yuskel Group, on EIC website. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Textiles | On 20th Aug 2017

PetroVietnam, Vinatex discuss reviving PVTEX plant

Discussions are under way between PetroVietnam and textile and...

Courtesy: Mexx

Fashion | On 20th Aug 2017

RNF acquires Mexx fashion brand

RNF, the Dutch sports and fashion holding, has purchased the global...

Textiles | On 20th Aug 2017

Intertextile Shanghai Home Textiles opens on August 23

Intertextile Shanghai Home Textiles, Asia’s leading platform to meet...

Interviews View All

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search