As the number of companies engaged in the textile industry has been increasing, the Ethiopian Textiles Industry Development Institute plans to set up a national enterprise that will help create linkage between cotton producers and textile industries.
Institute Director-General, Sileshi Lemma, said that the Enterprise will have the mandate to purchase, sell and store raw cotton. It is aimed at addressing challenges related to shortage of raw material supply.
This will help realize the country's plan to make the nation a preferable destination for textile companies.
The country cultivates cotton on more than 125,000 hectares of land to meet the increasing demand for cotton which reaches over 100,000 tons, he said.
According to Sileshi, 18 new factories and 7 expansions are expected to commence operation this year. In addition to this, 10 garment factories have already finalized preparation to be operational this year.
The country foresees to earn 435 million USD from the industry this fiscal year by improving capability of industries, increasing input supply and skilled labour. It the nation manages to achieve the set target, the revenue would increase by USD 323 million compared to that of the previous year.
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