Institute Set To Earn $250 Million From Textile Export

The Ethiopian Textile Industry Development Institute (TIDI) says it is set to earn $250 million in the current 2006 Ethiopian budget year from export of textile products.

The Industry Affairs Standing Committee with the House of People’s Representatives (HPR) on Friday appraised the performance of TIDI over the past 2005 Ethiopian budget year.

The Institute also briefed the Committee members on its working plan for the current 2006 Ethiopian budget year.

While the Institute had planned to earn $113 million from textile export in 2005 Ethiopian budget year, it could only make $101 million, Sileshi Lemma, TIDI Director General, told the committee members.

He attributed the gap to the delay in the commencement and performance of new investment projects.

TIDI is set to earn $250 million in the current Ethiopian budget year, the Director General said.

The nation’s textile sector is also on course to provide work for 8,000 new recruits in the stated period, he added.
Source: Ethiopian Radio and Television Agency (ERTA)