Home / Knowledge / News / Textiles / Chinese textile firms continue to invest in Ethiopia
Chinese textile firms continue to invest in Ethiopia
13
Feb '17
Few large Chinese companies, including textile and garment manufacturing industries, have decided to invest in Ethiopia in the first half of the current Ethiopian budget year. The investment has come after the Ethiopian Investment Commission (EIC) started according priority to large, effective companies that can offer more and quick employment.

Following the new strategy, Ethiopia has managed to attract investment from ten large Chinese companies, according to EIC commissioner Fitsum Arega. About half of these are in textile and apparel manufacturing, and this includes Jiangsu Sunshine Group, which has decided to invest nearly $1 billion in Ethiopia.

The decision by the Chinese companies to invest in Ethiopia clearly shows that the East African nation has continued to become a favourable investment destination, Arega told Ethiopian news agency.

Speaking on the change in EIC’s strategy in attracting foreign investment, Arega said, “The ongoing direction is not focusing on increasing number of participants coming in the name of investors. Rather the country prioritised attracting some but large, effective companies which can meet the targets of both the company and the country.”

Competitive wages, trainable workforce, ongoing infrastructure development, fast growing economy, government support and favourable investment climate are among the factors that attract large companies to invest in Ethiopia.

“We recommend any investor worldwide to invest in Ethiopia because of its economic, political, and social stability, which is enthused by incredible government commitment and incentives towards the textile sector,” says Osman Basoglu, general manager of Etur Textile Plc, a part of Yuskel Group, on EIC website. (RKS)

Fibre2Fashion News Desk – India


Interviews View All

Nishank Patel, Shri Dinesh Mills Limited

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

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

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

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

Spokesperson, Hugo Boss

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Maya Simova,

Maya Simova

Inter Expo and Congress Center (IEC) is a prominent exhibition centre in...

Milva Morani,

Milva Morani

Brighi Technologies began in 1970 with trading and repairing sewing...

Nitesh Mittal,

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

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

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

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

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

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


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search