Ethiopia is a great place with vast and flourishing economy with so many sectors available to contribute in the overall growth of the economy. The agriculture, manufacturing, food sector, leather and the garment industry are the important sectors that play a major role in profiting the economy. These sectors count for the small and the medium scale industries in this country which is an asset for any economy to flourish. That is the reason why I selected this topic to write something which is an interesting thing to be discussed in an open platform and to share the multiple views of the readers.
After the agriculture, the textile and the clothing sector is on the top of the priority list and attracts the buyers all around. An important reason that fuels it is the involvement of the foreign investment that results for many organizations to expand their businesses at a rapid rate. As I read in the latest reports that by 2016, the textile and clothing industry has set a target of achieving around $ I billion. From this figure, it can be assumed how fast and productive this sector is. The major factor that pushed the FDI is The Ethiopian Investment Agency (EIA) which is whole soul responsible for the investment issues and the business approvals and the licenses. The Ethiopian government is so much aware about the requirements needed to foster the growth of the economy and in turn the investors are given so many opportunities as well.
I heard of the fact that Ethiopia being a huge land of development and many options for the future with immense potential and the resources available at easy reach. Also some online resources also counts Ethiopia as the one who grows one of the finest cotton, they also have the rich textile spinning and the remarkable weaving history as well. And luckily this country is now attracting tremendous international buyers and the investors which I recently seen in a report which says there was an 8% GDP growth since 2008 which was a good sign after 1995. With these facts and the opportunities I can say that Ethiopia is a great platform and a growth generating place for the small sectors to grow, especially the textile industry. Mats made of textiles are also in use in many games such as snooker, pool, gambling tables.