13 Feb '17, 12pm
EcoTextile News - Textile investments in Ethiopia raise due diligence questions
ADDIS ABABA - Ethiopia attracted investments of US$1.2 billion in the first six months of the current Ethiopian budget year despite being under a state of emergency. Among the investment, money poured in from ten leading Chinese companies, half which are licensed in textile and garment manufacturing industries, according to the Ethiopian Investment Commission. Investors included Jiangsu Sunshine Group, which engages in wool textiles and garments as well as a range of other sectors. The business has decided to invest close to US $1 billion in Ethiopia.