During his keynote address at the Ethiopian Investment Promotion Workshop in Cotton, Textile, and Apparel Sector held in Dindigul (southern India), Mr. Bogale said that his country welcomes Indian investors by offering low cost of power, excellent infrastructure and ready-to-start business facilities.
DINDIGUL, India (The Hindu)–Low power traffic, easy access to land with minimal lease period, excellent infrastructure, ready-to-start business facilities, and duty free and quota free market access to the EU and the US are major advantages for Indian investors in Ethiopia, according to Bogale Feleke Temesgen, State Minster for Industry, Ethiopia.
Delivering the keynote address at the Ethiopian Investment Promotion Workshop in Cotton, Textile, and Apparel Sector held here on Thursday, the Minister said Ethiopia was the largest domestic market in Africa.
Stating that textile industry would play a major role in the industry development strategy of the nation, he said Ethiopia’s textile and clothing industry has been undergoing major development aided by low labor costs and highly motivated work force. The minimum investment is $200,000, he added. “There is huge potential for expansion of cotton cultivation in Omo-Gibe, Wabi Shebelle, Baro Akobo, Blue Nile and Tekeze River basins in Ethiopia. With successful bilateral and multilateral agreements with the US and the EU, the manufacturer can easily export their products all over the world.
“We offer power for ₹2 per unit and unskilled labor wages was $60 per month,” the Minister said.
Top priority was given for infrastructure development. ‘Plug and play’ facility was created for investors in all industrial parks.
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See also:
- Ethiopia Is Inviting Investments in Industrial Parks
- ADFD Assessing Investment Opportunities in Ethiopia
- VIDEO: Ethiopia among Top 10 Countries to Invest in Africa
- Chinese Companies Invest 4 Bln USD in Ethiopia in 2 Decades
- Chinese, South Korean, Indian Apparel Makers Landing in Ethiopia