ADDIS ABABA – The textile and garment industry sector is more open to and better convenient for foreign companies, said Ethiopian Investment Commission (EIC).
As to the commission, the companies have been generating hard currency for the country.
Aschalew Tadesse Investment Promotion Director at the Commission told The Ethiopian Herald that the textile and garment industry sectors are one of the prominent sectors to which the government given due attention.
It has comparative advantages for Ethiopian and foreign entrepreneurs. It is expected to increases the country’s export rate and the foreigner companies are on board for this goal.
Accordingly, the country has rendered the Industrial parks convenient for the textile and garment industries. From nine industrial parks in the country about eight parks are made open for this sector especially for foreign companies and for the companieswhich can export their products.
The foreign companies have engaged fully on this textile sector in Awasa, Mekele, Bole Lemi, kombolcha and in most of other industrial parks. They are exporting their products. The government has developed these parks to make things suitable to international companies, he said.
Regarding the collection of foreign exchange, the textile and garment industry sector has been playing the salient role. Therefore, more profit is expected from the sector. The internationally well-known big companies engaged in the country are exporting their products to American and European markets. This has resulted in the country’s foreign exchange upsurge, he noted.
Aschalew added, the skilled and also less expensive human power in the country is a good opportunity for attracting the companies. The lower electricity power cost and the availability of abundant land for the production of cotton as well as the country’s weather for this cotton production are appropriate. And also there are lots of other opportunities that could make the foreigner companies to prefer Ethiopia.
From sectors which created more job opportunities for citizens, the textile and garment sector takes the lion’s share. Only one company has hired about 3000 or 4000 employees, he noted.
As to the director, there is no job without challenges. So, some instability in the country has been making employees to be insecure. The citizens’ working culture has also some challenges. But the limitations decrease more especially around industrial parks, which are more secured.
There is no big challenge which the sector has been facing in the country. Placing focal attention on the available challenges, the government has been addressing them.
The Ethiopian Herald November 24/2019
BY GENET FEKADE
