Ethiopia has earned $89.3 million and created 17,000 jobs in the textile sector during fiscal 2016-17 and the country plans to earn $271 million from textile exports and create 30,000 jobs in the current fiscal. The target warrants more efforts by private investors along with government incentives, according to state minister of industry Bogale Feleke.
The Ethiopian fiscal year runs from July 8 to July 7.
Addressing the annual meeting of stakeholders to evaluate the performance in various industrial sectors, Bogale said Limitations in production capacity, product diversification, raw material, market linkage , project delays and lack of export discipline were the major challenges for export performance, according to an Ethiopian newspaper report.
He indicated that despite relatively lower performance, Ethiopia plans to become the top textile manufacturing and exporting country in Africa and is building several industrial parks.
The government has keen interest to support the sector in order to generate foreign exchange, create wide job opportunities for many Ethiopians and to increasing quality textile product, the director further added. (DS)
Business – nazret.com