American Investors shows interest to take on Ethiopian textile and garments sector

YarnsandFibers News Bureau 2014-05-01 08:00:00 – Addis Ababa,

Western investors engaged in textile and garment sector are found being pulled toward Ethiopia to make investment in their textile and garment sector mainly due to the stable and conducive investment environment.

During President Mulatu Teshome meeting with the American investors engaged in textile and garments sector, he said that American investors should take advantage of the investment opportunity as Ethiopia is most appropriate for textile and garment production with over three million hectares of land cultivating cotton.

Also, the American investors will have easy access to the U.S. market through AGOA and can definitely benefit by making the best use of it.

Moreover, the government in particular is making every efforts to promote investors having interest to engage in the industrial sector.

According to Vice President of Philip -Van Hansen Company (PVH), Mr. Mark Green, the leader of US investor’s delegation, Ethiopia’s investment policy is conducive and also has substantial human resources and power supply were the reasons behind American companies have expressed great desire to link up with the Ethiopian textile and garment sector.

Also the industrial zones set up in different parts of the country shows the determination of the Ethiopian government to bring about structural change in the industry.

Ethiopia strives to attract American investors to invest into their textile and garment sector.

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