Turkish Company Invests 1.2 bln Birr In Textile Sector

The Turkish textile factory MNS Manufacturing P.L.C. has launched the first phase production of carpet, towel and bathrooms, polyester, fiber-line home furniture (spring mattress and sofa) investing of over 1.2 billion birr, EH reported.

The company has been undertaking expansion activities in three phases around Lege Tafo area. The factory has already accomplished the task of construction and equipment installation. The factory entered first production phase and is expected to finalize phase two and three construction very soon.

MNS Project Coordinator Nursel Aslan said: “We are working very hard to finalize the whole project and make the investment generate income as quickest as possible. Investors should be very committed to succeed in Ethiopia as we do. If you are suspicious you cannot be successful.”

Asked about employment opportunities created by the factory, she said that when the factory goes fully operational it was expecting to create around 1,000 jobs only in its first phase. “So far, we have employed 400 Ethiopians, which is increasing day by day. We didn't reach the peak. We have just started. This year, when the first and the second phases go fully operational, we will have approximately 1,200-1,500 Ethiopian workers,” she added.

Concerning the investment climate, she said that one can easily understand that there is a very good investment climate in Ethiopia. “In our first visit, September 2011, we have assessed the investment climate in Ethiopia and we have been sure that there is very attractive environment for investment. We have received a warm welcome and unreserved support from government officials at different levels from the very start up to now.”

In the past six months, 46 investors registering 7 billion birr capital received license and land in Oromia State. The license of 31 investors who failed to launch their respective projects have been revoked by the State Investment Commission.

Commission Communication Affairs Process Owner Mekonnen Fufa recently told The Ethiopian Herald that the measures were taken following repeated consultation and warning.

On the other hand, he said it is quite incredible to see factories like MNS having received investment license and land and start production in a period of one year.

Source: The Ethiopian Herald (EH)