Home / Knowledge / News / Textiles / Ethiopia to draw funds from India & China for industrialization
Ethiopia to draw funds from India & China for industrialization
29
Nov '10
Prime Minister of Ethiopia, Meles Zenawi, recently said that Ethiopia, with an intention to industrialize its highly agro-based economy, is looking forward to draw more investments from firms in India, China and Turkey.

Though being one of the poorest countries of the world, Ethiopia stated that it registered double-digit growth rates consecutively for six years, which has enabled it to grow into Africa's most rapidly developing non-oil producing nation.

Meles stated that, the country's industry is expected to grow at a higher pace than agriculture, in the coming five years. Further that, the country is likely to uphold a strategy of export-driven industrialization, while drawing investments would remain its main focus.

The Premier said that, the country's government would aim at the Chinese, Indian and Turkish companies interested in Ethiopia's emerging textile and leather sector.

He remarked that, the country is expecting to draw more funds from Turkey, but for textile industry it is expecting more funds to flow from India, while several Chinese and few European firms have showed their interest to invest in the country's leather sector.

Also, the country came out with its new five-year plan in August which envisaged a "base-case" situation having 11 percent average yearly growth and a "high-case” situation having a growth of 14.9 percent over the period.

Fibre2fashion News Desk-India

Must ReadView All

Apparel/Garments | On 27th Mar 2017

NYCEDC announces $51mn package for NYC garment industry

New York City Economic Development Corporation (NYCEDC), in...

Apparel/Garments | On 27th Mar 2017

Fynd raises $500K Series A funding from Venture Catalysts

Fynd, an online to offline (O2O) e-commerce fashion marketplace, has...

Apparel/Garments | On 27th Mar 2017

India's fashion market to touch $30 bn by 2020: Report

The fashion market in India is estimated at $70 billion in 2016, with ...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Urs Stalder
Sanitized AG

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Mike Hoffman
Gildan Activewear SRL

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

Sonam & Paras Modi
SVA

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

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
March 2017

March 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