The first session of the Saudi-Ethiopian Business Council convened in Riyadh, marking a step towards enhanced economic cooperation between the Kingdom and Ethiopia, the Ethiopian Embassy in Riyadh announced.
Ethiopian Prime Minister’s Advisor, Getachew Reda said Ethiopia received an offer from the Sawiris family to invest in the country’s hotels sector.
The Saygin Textile Dima Textile factory is to begin operations in Ethiopia by the end of this month. 
The factory is expected to produce yarn and fabric for both the local and export markets including acrylic, cotton, linen, wool and textile fibers according to Turan Ahmet Turan General Manager of Saygin Dima.
The factory expects to enhance production by focusing on weaving and products such as sweaters, socks and linens.
The Saygin Group subsidiary in Ethiopia is set to generate as much as 100 million US dollars per annum from textile manufacturing according to the Turkish company.
Saygin Dima Textile SC, which launched operations at its Ethiopian factory just three months ago, is looking to manufacture 50 thousand meters of fabric a day for international export said Ahmed Turan Yangin, General Manager.
The company is set to take advantage of low power costs estimated at a third of what they would be in Turkey and wages one 20th those of the home market said Yangin.
Workers earn 600 Ethiopian birr or 34 US dollars a month for a 48 work hour said Yangin who feels that the low production costs are the most important incentive for a textile investor to choose Ethiopia.
SBG Mineral Water Company announced the launch of ARKI mineral water on November 14, 2015, in Sululta Oromia Regional State of Ethiopia, according to Addis Fortune.
