Zambia’s Ambassador to Ethiopia, Emmanuel Mwamba has invited one of the leading textile companies in Bole Lemi industrial export zone in Ethiopia to invest in Zambia.
Speaking when he toured the export industrial zone and Jay Jay Textiles facilities, Mr. Mwamba said Zambia required value addition to the cotton the country grows.
Jay Jay Textiles has invested $15 million specialising in the production of children’s clothing which are for export to Europe and the United States.
Mr. Mwamba said that Zambia was promoting industrialization and the company was encouraged to set up base in the country as it was an attractive investment destination
Mr. Mwamba who is also Zambia’s Permanent Representative to the African Union told the investor that Zambia had one of the most attractive investment climate and incentives for investors in priority sector such manufacturing.
He said Zambia’s geographic location with access markets into SADC and COMESA was lucrative for any investor to reach the larger market in the regions.
The Ambassador further invited the company to be part of the newly established Zambia Ethiopia Business Forum which seeks to link the private sectors of two the two countries.
And Jay Jay Textile Regional Manager Mr. K. P Raju expressed interest to invest in Zambia and assured that the company would work with the embassy and undertake further assessment of the investment climate in Zambia.
This is contained in a statement issued to Smart Eagles by Zambia Embassy, Addis Ababa
Ethiopia First Secretary –Press & Tourism Inutu Mwanza.