Leading Chinese Textile, Apparel Company keen to invest in Ethiopia
(EBC; September 12, 2018) - China National Textile and Apparel Council (CNTAC), a large-scale textile company, has expressed its interest to invest in Ethiopia.
President Mulatu Teshome held discussions with a 52-member CNTAC delegation led by company President Sun Ruizhe on issues of investment opportunities in Ethiopia.
After the discussions, Sun Ruizhe told reporters that he came to Ethiopia to conduct a feasibility study on large-scale textile investments.
“Many Chinese textile entrepreneurs are interested to invest in Ethiopia because we have clear understanding of government policy, high efficiency, incentives and privileges and also the comparative advantage of developing textile industry in Ethiopia,” Sun added.
According to Ashebir Getnet, Protocol and Communications Director at Presidential Office, Dr. Mulatu briefed the delegation on the existing peace and stability in the country as well as the investment opportunities in various areas including the textile and apparel sector.
President Mulatu told the delegation that the government will provide every necessary support and incentives to investors who want to engage in the manufacturing sector.
The delegation visited Hawassa Industrial Park as part of a feasibility study and expected to discuss with other senior Ethiopian government officials.
The visiting delegation is captivated by the low cost of energy and abundant labor force in Ethiopia as well other incentive packages provided by the government, ENA reported.