Ethiopia: Turkish Textile Companies Planing to Invest in Ethiopia

Turkish textile and garment companies are planning to move their factories to Ethiopia, with the assistance of Ayka Addis Textile and Investment Group, a Turkish company that made the same move three years ago.

Ayka submitted a proposal for the relocation of several Turkish textile and garment companies to the Ministry of Industry which has been already accepted.

Ayka Addis’ General Manager Ercan Turkoglu told Capital in an email response that an industrial zone will be built by Ayka Addis.

“Concerning Ayka’s project to bring in 20 companies, the company has asked for four plots of land around Addis and it has also asked for another four plots of land for a different project it is engaging in. one plot of land has already been allocated around Ayertena area,” Tadesse Haile State Minister of Industry told Capital.

The Minister also said that the project undertaken by Ayka is also targeting to export value added textile products. “This will be a big plus for the industry and will significantly contribute to the government’s plan to double the export revenue in the coming budget year” Tadesse added.

The relocation of the companies is expected to create two billion dollars in export revenue per annum and more than 60,000 job opportunities.

Source: Capital

 

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