Home / Knowledge / News / Textiles / Progressive polices attracts investments in textile sector
Progressive polices attracts investments in textile sector
20
Mar '10
Ethiopian Investment Agency (EIA)'s Agency Director, Abi Woldemeskel, while laying down the agency's performance report before the Trade and Industry Affairs Standing Committee in the House of Peoples' Representatives', stated that, during last five years, the agency has given out over 11,000 investment licences to local and overseas investors, whose aggregated funding came to 423 billion Birr.

He divulged that 295 billion Birr of the aggregated capital, has flowed from 6,255 foreign investment projects.

According to him, employment opportunities have been generated for over 130,000 citizens, from the projects which have entered the production phase and added that, as all the projects go fully functional, over two million other jobs will be created.

As the industry development strategy primarily concentrates on the textile and clothing, leather and leather products, this has lead to encouraging project implementation in these areas and 3,247 investment projects were ready for launch as there was satisfactory infrastructural development in accordance with the schemes, he said.

Kebede Abera, Chairman of the Standing Committee, opined that the efforts executed for encouraging the investment opportunities in the country needs to be further amplified. He said that optimal efforts need to be employed to establish a system facilitating the investors launch activities and to further boost up monitoring and support.

He also divulged that EIA has embarked on promotional activities focused towards capacity building of its workforce.

Fibre2fashion News Desk - India


Must ReadView All

UNIDO, eWTP discuss strengthening ties to back e-commmerce

Textiles | On 25th Apr 2018

UNIDO, eWTP discuss strengthening ties to back e-commmerce

United Nations Industrial Development Organisation director general...

Courtesy: HueTrap

Apparel/Garments | On 25th Apr 2018

Making sustainability affordable is a big challenge

In a lot of instances, being sustainable comes with an additional...

Courtesy: Formosa Petrochemical Corporation

Textiles | On 25th Apr 2018

Formosa to set up petrochemical plant in Louisiana

Formosa Petrochemical Corporation has selected St. James Parish in...

Interviews View All

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Dharmendra Shah
Ozone PB Spintex Limited

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

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Urmil Arya

Sushila International, a well established textile organisation established ...

Urs Stalder
Sanitized AG

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

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

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

Leave your Comments


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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