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

Textiles | On 20th Feb 2017

UK textile & apparel exports up 7.05% in 2016: UKFT

The exports of apparel and textiles from the UK have increased by...

Textiles | On 20th Feb 2017

Himatsingka Seide incorporates subsidiary in Europe

Himatsingka Seide Ltd, one of the largest producers of home textiles...

Textiles | On 20th Feb 2017

IVL receives distinction for sustainability performance

Indorama Ventures Public Company Limited (IVL), one of the world’s...

Interviews View All

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

C Kamatchisundaram
Voltas

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

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Mohammad Hassan
Biax Fiberfilm

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Robert Brunner
Devereux

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search