British textile and agricultural raw material firm Intrade UK Ltd is investing US$100m in a textile and garment factory in Ethiopia. Mahgoub said favourable investment opportunities attracted his company to invest in Ethiopia. Intrade is the latest company to invest in Ethiopia. In November, Chinese textile giant Wuxi No.1 Cotton Mill signed an investment agreement with the Ethiopian Government to build an integrated textile plant at Dire Dawa, around 450 km east of the capital Addis Ababa. Textile investment is pouring into Ethiopia, helped by the shared vision of brands, manufacturers and fabric mills, government support, preferential trade deals, investments in infrastructure, low costs – and an unexpected windfall from the end of the Trans-Pacific Partnership (TPP).

Source: Ethiopian News February 09, 2018 11:48 UTC