Industry News

Ethiopia Inaugurates Flagship Textile and Apparel Park

Ethiopia: The Government of Ethiopia has opened the Hawassa Industrial Park, an industrial park dedicated to the apparels and textiles sector, in Hawassa City. The government has invested USD250 million for the construction of Hawassa Industrial Park, which would house 37 factory units on a 300-hectare plot. Once the Hawassa Industrial Park attains full capacity, the facility is expected to create more than 60,000 jobs and generate exports worth more than USD1 billion. Around 15 leading textile and apparel companies from the US, India, China and Sri Lanka are prepared to commence operations at the industrial park. Additionally, six domestic manufacturers are ready to begin operations at this facility. The Hawassa Industrial Park would also produce clothing for PVH Corp., the US textile giant that owns Calvin Klein and Tommy Hilfiger.

TechSci Research depicts that investment in the textile and apparels sector would aid the growth of the manufacturing sector of the Ethiopia and help the country in realizing the target of becoming a middle income country by 2025. Furthermore, expanding textile industry is expected to boost the demand for textile chemicals in the country.

According to the recent report published by TechSci Research,Global Textile Chemicals Market Forecast & Opportunities, 2020”, global textile chemicals market is projected to grow at a CAGR of over 3% during 2015-20. Growth in the market is anticipated on account of increasing per capita textile consumption coupled with rising demand for high quality textile products. Moreover, increasing industrialization, surging consumption of textile in engineered products, and rapidly rising awareness about the benefits of using technical textile in workplace, are anticipated to propel the global textile industry, thereby driving global textile chemicals market over the next five years.

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