Home / Knowledge / News / Textiles / Govt lures Turkish textile sector for investment
Govt lures Turkish textile sector for investment
20
Aug '08
The Ethiopian Government is planning to bring at least six global textile giants to the country during the fiscal 2008/09. In order to put this plan into action, the authorities had recently send a delegation to Turkey for inviting investments.

The group of representatives was led by Beyene G Meskel, Director General of the Privatization and Public Enterprises Supervisory Agency (PPESA). During the meeting the delegates discussed various investment opportunities like incentives and joint venture options that Ethiopia is ready to offer.

The Government is seeing Turkey as a nation that can make maximum investment in Ethiopia. Turkish entrepreneurs have previously relocated their enterprises to various African and Asian regions, because of availability of cheap labour and low cost of production.

The Ministry of Trade and Industry (MOTI) is eying on the textile sector as it wants to uplift this industry for generating foreign currency. The authorities aim to have yearly revenue of approximately US $500 million by 2011, for which the Government must bring nearly 190 enterprises that can make the capital investment of $1.6 billion.

MOTI aims to install around 48 units for threading, approximately 31 for grey textile production, nearly 22 in knitted sector, 53 in woven, 31 in garment and 6 for finished textile.

The shifting of Ayka Textile Industry of Turkey, two years back has made the local Government optimistic about the possibility of other big textile companies relocate their bases in Ethiopia.

Must ReadView All

Courtesy: Ikea

Textiles | On 26th Apr 2017

Ikea’s product sourcing from India to double by 2020

Ikea, the global home furnishing giant from Sweden, plans to double...

Textiles | On 26th Apr 2017

CITA to add insufficiently available fabric in CAFTA-DR

The Committee for the Implementation of Textile Agreements (CITA) has ...

Courtesy: SKF

Textiles | On 26th Apr 2017

SKF brings predictive maintenance for machinery to India

SKF India, a global supplier of bearings, seals, mechatronics,...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Steve Cole
Xerium Technologies

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Rupa Sood and Sharan Apparao
Nayaab

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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

news category


Related Categories:
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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