The Ethiopian Investment Commission has set a goal to reach $1 billion in textile and clothing trade revenue by 2030. This initiative was highlighted at the International Textile Forum 2024 in Addis Ababa. The commission organized this event in partnership with King Dem Group Holding. The forum serves as a key platform to showcase Ethiopia’s industrial growth and promote investment opportunities in the textile sector.
Zeleke Temesgen, the Commissioner of the Ethiopian Investment Commission, reported that textile and clothing trade revenue is improving. This growth comes from increased foreign direct investment (FDI) and the establishment of industrial parks focused on textile manufacturing.
Ethiopia has created permanent jobs for 1,200 employees in just four years. The company is dedicated to using Ethiopia’s natural resources for raw materials. This strategy reduces reliance on imports and supports sustainable economic growth.
The Ethiopian government strengthens the textile industry to achieve its broader economic goals. Ethiopia aims to transform its textile sector into a significant contributor to national revenue by promoting local production and attracting international investments. Events like the International Textile Forum are crucial in showcasing Ethiopia’s potential as a prime destination for textile investments.
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