23 C
Lahore
Thursday, March 28, 2024

Revival of Ethiopian textile industry

Textile sector is one of the most focused areas of the second Growth and Transformation Plan that basically aims to enhance the exports by one billion dollar strengthening the finishing works of Growth and Transformation Plan (GTP I). The sector also expected to increase more than 300,000 jobs by the end of GTP II.

The communication director with the textile industry, Bantihun Gesesses says that the textile industry is expanding and is growing quickly in the Ethiopia with a massive involvement of foreign as well as local investors. The government is also implementing various incentives to the investors who are trying to get more engaged in the sector.

The offered incentives include market linkage, chemical supplies, value chain and quality development, expanding investments, technology adaptation, and research and studies in the textile sector. At the moment there are about 117 local and 80 foreign investors who are working in the Ethiopia. This situation is increasing the flow of foreign direct investment to the country.

These situations are also offering thousands of more jobs for the locals. Furthermore the sector is planning to create more than 300,000 permanent as well as contractual job opportunities by the end of GTP II, said the officials.

According to the officials the Ethiopian industry is naturally suitable for investors with the presences of suitable climate, infrastructure, abundant incentives and competitive labor forces with good and practical policies with good access to the value chain in the textile sector. 

“The small and middle industries are expanding into higher industries and higher industries are growing into industrial parks. The government has put in place various incentives for both local and foreign investors” said the officials.

The support is also expected to enhance the performance of the investors by enhancing the labor force and modernizing the management system to upgrade the number of small industries that are feeding the larger one.

The support improves the performance of investors by enhancing their labor force and also modernizing the management system to increase the number of small industries that feed the large ones.

According to the officials the strands, cotton and weaving products are the major inputs of the textile industry in the Ethiopia while remaining inputs are imported. However there is a huge potential for the production of cotton that is a major input for the textile industry.

Related Articles

1 COMMENT

Stay Connected

11,285FansLike
394FollowersFollow
9,170SubscribersSubscribe

Latest Articles