December 10, 2014
Calzedonia, an Italian garment manufacturing firm, is set to open its first branch in Ethiopia’s Tigray state of Mekele city, Embassy of Ethiopia reported.
In his meeting with the Italian company delegates at the Ministry, Ethiopian state minister Dawano Kedir said that Ethiopia has ample investment opportunities and huge potential for textile industry.
Given the country’s strategic location at the crossroads of three continents, the peaceful investment climate and incentives, among others, have attracted investors to come and take advantage of the business opportunities in Ethiopia, he added.
Calzedonia’s president Sandro Veronesi said that this is his second visit to Ethiopia. The company’s meeting with the Ethiopian state minister was fruitful as they have been able to identify the advantages and conditions prevailing in Ethiopia.
The Italian firm wants to establish a factory for the production of nightwear, capable of employing some two to three thousand people and is still assessing the appropriate location and suitable conditions for the establishment of the factory in Ethiopia. Calzedonia is hopeful to start with the investment by next year, he said.
Calzedonia is an Italian company, which produces innerwear, socks and costumes, for women, men, and children. (GK)