Ethiopia - African fastest growing economy, the Tiger economy of the East Africa and one of the World fastest growing economy!
American clothing company Phillips-Van Heusen Corp, which owns the Tommy Hilfiger and Calvin Klein(CK) brands, is considering using suppliers at an industrial park in Hawassa, south of Addis Ababa.
Walmart & Tesco, two of the world's largest retailers also started sourcing clothes from Ethiopia.
Hennes & Mauritz AB (H&M), a multinational Europe’s second-largest clothing retailer, already sources from three factories in Ethiopia.
Primark, an Ireland-based clothing company, source a lot of material from Ethiopia.
Huajian, a Chinese shoemaker has built the biggest shoe manufacturing plants in sub-Saharan Africa (exporting to U.S. within three months of starting, and creating 4000 jobs in two years).
American clothing company Vanity Fair corporation is also on the way to start sourcing from Ethiopia.
Buffalo Bicycles, an afilliate of SRAM, the world’s second-largest cycle-components maker, based in Chicago, is aiming to invest in Ethiopia.
Shin Textile Solutions Company of South Korea moved into the existing factory park, employing 3,000 people.
H.E. Ato Haile Mariyam Desalgn
F.D.R.E Prime Minister
“We are intent on attracting more FDI, based on our comparatives advantage, which is focused on a labour intensive light manufacturing.”
Dr. Arkebe Oqubay,
Special Adviser to the Prime Minister of Ethiopia
“Ethiopia is targeting US$1 billion of annual investment in industrial parks over the next decade to boost exports and make the country one of Africa’s top manufacturer, In terms of industrial development and manufacturing development, we want to put Ethiopia number one in Africa.”
H.E. AtoTadesse Haile,
Deputy minister, Ethiopian Ministry of Industry
“The government wants manufacturing to have a "dominant role" in the economy over the next decade.”