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| NITRA to host seminar on investment opportunities in Ethiopia | | October 26, 2009 (India) |  |
The wave of liberalization and open economy has spread far and wide over the last one and a half decades. The continent of Africa is no exception. As a result, Ethiopia, a small landlocked country in Africa, has opened its gate for foreign direct investment in many sectors including textiles & apparel.
In fact, they have tied up with India to utilize its technological and managerial expertise for their cause. Last month a team of Indian delegates from IL&FS and NITRA visited Ethiopia to explore the opportunities for Indian entrepreneurs to invest in Ethiopia. This initiative was taken up at the request of Ministry of Commerce, GoI.
In this context, it may be mentioned that in August 2004 NITRA took up a prestigious project in Ethiopia for providing technical consultancy to set up a Textile and Apparel Industry Support Institute (TAI) at its capital city Addis Ababa. The institute is already in operation as the project is almost at the completion stage.
In addition to that NITRA trained a number of Ethiopian textile engineers and sewing machine operators both in India and Ethiopia, so as to develop their manpower resources. To share the information gathered by the delegation, IL&FS is organizing a series of meetings to discuss investment opportunities in Ethiopian textile & apparel industry.
The first meeting is scheduled for 27th October 2009 in Shangri La Hotel, New Delhi and the second meeting will be held on 28th October 2009 in Hotel Taj Palace, Mumbai.
For more details contact, Dr Mrs. Milan Sharma on 09899640524, of IL&FS, Delhi.
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