2merkato

Ethiopia expects more South Korean investors in the manufacturing sectors, specifically in textile industry, according to State Minister of Industry Tadesse Haile.

Ethiopia expects to earn an estimated one billon US dollars from the export of textile goods by the end of the five year development plant according to Sileshi Lemma, Director General of the Textile Industry Development Institute.

All stakeholders in the textile sector including investors and the government have been exerting efforts to encourage the increase in export of textile goods explained Sileshi at a one day symposium held at the Addis Ababa Exhibition Center under the theme of 'Textile Industry and Its Prospects in Ethiopia'.

Ethiopia’s Ministry of Agriculture and Natural Resources disclosed it expects harvest of 321 million quintals during the meher season. The harvest will exceed the previous meher season by 10 percent.

Ethiopia expects it coffee to hit a record high during the current fiscal year when it comes to the export of the commodity. This is said to be attributable to the drought and diseases hitted crops in Latin America.

The mining sector in Ethiopia is expected to generate more than USD 500 million in revenue during the current fiscal year, according to the Ministry of mines. The utilization of the nation's enormous mineral resources has not yet reached its full potential.