A Consultancy firm based in Addis Ababa
Shangtex Holding Co. Ltd has signed a lease agreement with the Ethiopian Industrial Parks Development Corporation to invest at Bole Lemmi II Industrial Park.
Shangtex is the second largest textile company in China.
The agreement was signed here by Lelise Neme, CEO of the Corporation and representative of the Chinese company.
Lelise said on Twitter that the company will invest $65 million at the industrial park and create jobs for more than 4,000 people.
Source – Fana Broadcasting Corporate
The International Trade Center (ITC) organized, under the Partnership for Investment and Growth in Africa (PIGA) project, a dialogue on Ethiopia’s potential to become the next textile and apparel (T&A) supply base for the world. The discussion was organized in collaboration with the Ethiopian Investment Commission (EIC) and the China Chamber of Commerce for Import and Export of Textile and Apparel (CCCT).
The event gathered more than 100 international buyers, potential Chinese investors, representatives of Chinese and foreign-owned companies in Ethiopia and representatives of Ethiopian institutions. It was followed by field visits to T&A factories in several industrial parks around Addis Ababa.
Continue reading “Ethiopia is well positioned to become the textile and apparel manufacturing hub of Africa”
Ethiopia is one of the fastest growing countries in the world. Its current population of over 100 million is expected to double in the next 30 years, hitting 210 million by 2060. Due to this accelerated surge in population growth, the country is facing a critical challenge of creating enough jobs.
The Ethiopian government identified industrialization as the means to transform the economy, reduce poverty, provide jobs, and achieve the ambitious aim of transitioning the economy to lower-middle-income status by 2025. But growth in the manufacturing sector lags.
Continue reading “Ethiopia’s Industrial Parks are Making Jobs a Reality”
SGS, a leading inspection, verification and certification company, has opened a new textile laboratory in Ethiopia. The new laboratory is equipped with state-of-the-art facilities and can provide a wide range of testing services for apparel and textile products. It will strengthen the local industry’s ability to meet the global standards.
“Ethiopia is becoming a hub for ready-made garment exports to Europe and the USA, clearly demonstrating an increase in demand for consumer product testing services in this region,” said Spencer Yeung, Vice President of SGS Global Softlines. “Our new state-of-the-art facility can test against an array of international safety, quality and compliance requirements. In addition, our program of future development and investment ensures that this lab will be the only fully-fledged textile testing laboratory in the region.”
Continue reading “SGS opens new textile laboratory in Hawassa Industrial Park”
Nation attracted 700 Million Foreign Direct Investments (FDI) during the first quarter of the on-going fiscal year, according Ethiopian Investment Commission report.
In its report to the House of Peoples’ Representatives Trade and Industry Standing Committee, the Commission said the country has achieved 70 percent of the plan which was projected to bring over a billion U.S. dollar investments during the stated period.
Continue reading “Ethiopia Attracts $700 Million Foreign Direct Investment in First Quarter”Amid Africa’s growing quest to boost the manufacturing sector, experts from the continent and beyond have commended Chinese engagement in giving Africa a helping hand.
Speaking to Xinhua on Wednesday, Arancha Gonzalez, Executive Director of International Trade Center (ITC), emphasized China’s growing engagement and interest in Africa’s existing and emerging potential areas driving the continent’s industrialization.
Continue reading “Chinese engagement driving Africa’s industrialization”
The project fund was originally pledged during an event organized by Ethiopian Ministry of Trade and Industry . The event was organized by the Ministry of Trade and Industry after African Development Bank pledge for project funding.
Minster of Trade and Industry, Fetlework G/Egziabher, the state minster, higher level regional officials and project managers were present during the pledging ceremony.
The sponsorship for the project for agricultural processing comes from the African Development Bank, the Korea Exim Bank, the European Union, the United Nations industrial Development Organization (UNIDO) and Big Wynn.
Continue reading “Ethiopia to Build Integrated Agricultural Processing Industrial Parks in Four States”
Ethiopia attracted 3.1 billion US dollars Foreign Direct Investment (FDI) in the concluded Ethiopian fiscal year which ended July 7, 2019.
Ethiopian Investment Commission disclosed today that Ethiopia is the biggest FDI recipient in east Africa nations and the fifth largest FDI destination in Africa as a whole.