China National Textile and Apparel Council (CNTAC) said it was interested to invest in Ethiopia. A delegation consisted of 52 members discussed with President Mulatu Teshome about investment opportunities in the country. Sun Ruizhe, CNTAC’s president said he came to Ethiopia to undertake a feasibility study on textile on large scale textile investments. He said, “Many Chinese textile entrepreneurs are interested to invest in Ethiopia because we have clear understanding of government policy, high efficiency, incentives and privileges and also the comparative advantage of developing textile industry in Ethiopia.”

According to the company’s president, they are interested to invest in Ethiopia because of the availability of labor and raw cotton in addition to the country’s trade relations with Europe and the United States.

Ashebir Getnet, Protocol and Communication Director at Presidential Office, said the delegation was informed about the existing peace and stability in the country as well as investment opportunities in different sectors including textile and apparel sector.

Source: Ethiopian News Agency