Sri Lankan Investors in Ethiopia Planning to Expand Businesses

Sri Lankan investors engaged in various sectors in Ethiopia said that they are planning to expand their businesses in the country.

Indochine Apparel PLC Senior Compliance Manager, Anoj Ranaweera said with the support of the Ethiopian Investment Commission and others we are always keen to expand our business in Ethiopia.

The company, which has 5000 workers, started operation in 2016 at the Hawassa Industrial Park.

According to the compliance manager, the company has been the biggest exporter in Ethiopia in apparel industry for three consecutive years and was awarded for being the best exporter.

The “infrastructure of the (Hawassa) park is very nice and the operators and the workers, are very skilled when compared to other countries” Ranaweera said, adding that “we can therefore compete with other countries because they are very quick learner and educator.”

Jay Jay Textiles PLC Factory Manager, Dilan Madashanku pointed out that Ethiopia has very large investment opportunities and this is open for everybody.

The company which started operation at Bole Lemi Industrial Park about nine years ago has close to 10,000 employees, it was learned.

We are going to expand and “I hope other investors will also come to Ethiopia because there is a very large work force available in Ethiopia. So, definitely there are good opportunities for investment (in the country) and I hope other investment will come,” the manager said.

KMB Textile Consultant Managing Director, K.R.W Bandara said on his part that textile, garment and apparel manufacturing are labor intensive, and labor is available in Ethiopia.

Also, the Ethiopian government gives a lot of incentives to encourage investors.

The consultant managing director added that Ethiopia is a hub for Africa which investors can utilize. “I invite investors expecting to invest in Africa to invest here because Ethiopia is the best place,” Bandara noted.

“All Sri Lankan companies staying in Ethiopia are successful and nobody failed. They are day by day growing up. And now most of Sri Lankan construction and logistic companies and others are planning to come. Next month lots of Sri Lankan delegation will be here looking for opportunities in logistics and the transportation,” he revealed.

Ethiopia has also a lot of potential in the field of agriculture and construction. These are the two sectors we are inviting investors to come and invest immediately to start profitable businesses, the consultant managing director pointed out.

Arla International Import and Export of Spices and Oil Director, Roy Samathanam said he is exploring Ethiopia to seek opportunities in the agriculture sector and export from here to Sri Lanka.

“I am planning to get more Sri Lankans here to do something. I am in exploration of business opportunities. I think Ethiopia is a very good opportunity. There are lots of opportunities here in different fields. This is the main point of Africa. I think this is number one. We should be focusing on this place on export.”

Samathanam exports spices from India and other places and plans to get some Canadian products into Ethiopia or send some Ethiopian products to Canada and Sri Lanka.

“We have a big community in Canada, about 500,000 Sri Lankans in Canada. There is also big Ethiopian community too in Canada. So, I will try to do something…. Once I go there, I will connect Canada, Ethiopia and Sri Lanka.”

Source: Ethiopian News Agency