ADDIS ABABA (CGTN Africa)–Ethiopia is enjoying a boom in its textile and garment industry. That has brought money, technology and jobs to the economy once based almost entirely on agriculture. CGTN’s Girum Chala has more from Addis Ababa.
Ethiopia’s economy is primarily based on agriculture but over the last 5 years, the government has been keen on diversifying exports with priorities focused on strategic sectors like textile and garment manufacturing.
Ethiopia’s long history in textiles began in 1939 when the first garment factory was established. Based on Ethiopian country data, in the last 5 to 6 years, the textile, and apparel industry have grown at an average of 51% and more than 65 international textile investment projects have been licensed for foreign investors, during this period.
The growth in the textile and garment industry is directly linked to the Government’s move to set up an industrial development strategy. This step of the Ethiopian Government to prioritize designing incentives and policies to attract investment in view of worldwide competition has played a big role in the development of their economic status. | Continue reading this story at Alliance Experts
Source: CGTN Africa (video) and Alliance Experts (text)
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