Owner of the widely known brands such as Tommy Hilfiger, Calvin Klein and Heritage, Phillips-Van Heusen (PVH) Corporation, set 10 investment preconditions to the Ethiopian Government.

During their third visit to Ethiopia last week, officials of the company met with high government officials, including Deputy Commissioner of the Federal Investment Commission (FIC), State Ministers Sisay Gemechu and Taddesse Haile as well as representatives from the Textile Industries Development Institute (TIDI).

During the discussion held on Wednesday, August 28, 2014, the delegates from PVH forwarded 10 prerequisites for the Ethiopian government to make adjustments.

Ethiopia wants PVH to invest either in Hawassa or Dire Dawa. Nonetheless, the Company has set its eyes on the Bole Lemi Industrial Zone in the capital city.

Bole Lemi Industrial Zone has two phases, out of which the first phase has 20 shades on 156 hectares and 5 of them are already given to different companies. The remaining 15 are under construction and already given to 22 companies.

What PVH is requesting for is, to be granted a ready-to-use industrial park from the phase two of the zone for all the factories that it wants to bring to Ethiopia.

During their stay in Ethiopia, PVH officials paid a visit to the Dire Dawa city and the capital of the Southern Nation Nationalities and Peoples State, Hawassa.

It was along 27 textile and garment factories PVH officials paid a visit to Ethiopia last week. The visit by PVH was the third time in two months.

In spite of the disappointing export performance over the last four years, there are 17 textile factories and 1,120 cotton farms in Ethiopia.

Source: Fortune