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Chinese textile firm to set up shop here

Following an agreement between the Ethiopian Investment Commission (EIC) and the Chinese Wuxi No. 1 Cotton Investment Co. Ltd., a subsidiary of Wuxi Guolian Develoment Group, the textile manufacturer is set to install a plant inside the soon-to-be inaugurated Dire Dawa Industrial Park.

Textile industry “to learn a lot” from Sri Lanka

During the biannual high-level dialogue forum on industrial policy held early in the week in Addis Ababa, Kenichi Ohno, professor of economics at the Graduate Research Institute for Policy Studies (GRIPS), compared Ethiopia’s textile industry with that of Sri Lanka, stating that there is a lot the local sector could learn from Asian models.

CBE swallows Saygin Dima

The Commercial Bank of Ethiopia (CBE) has finally acquired the former Saygin Dima Textile S.C. under its own asset management company, Commercial Nominees (CN), and renamed it as SEDA Textile Company Plc, The Reporter has learnt.