Indian investors are setting up a denim manufacturing plant in Ethiopia
Reposted from Gulfnews.com
Kanoria African Textiles Plc, a subsidiary of India’s Kanoria Chemicals & Industries, is setting up a denim fabric manufacturing plant that will be a first for Ethiopia and East Africa and will create 350 jobs, mainly for Ethiopians.
This is one of the 577 projects on which Indian investors will be spending $52 billion in Ethiopia, according to data released by the Ethiopian Investment Agency (EIA). Of these, 152 are operational and have created 13,000 permanent and 98,000 temporary jobs across the country. Indian investors have been in the country since 1985. More…
Ethiopia is seeking to attract export-driven manufacturers by building industrial zones
Reposted from Bloomberg Businessweek
By William Davison
Ethiopia will spend 900 million birr ($49 million) to open its first industrial hub for export- oriented manufacturers in a bid to deliver faster economic growth, Industry Minister Mekonnen Manyazewal said.
South Korean garment-makers are among companies in talks with the government about establishing operations at the planned site in the capital, Addis Ababa, Mekonnen said in an interview in the city on March 15. The facility is scheduled to open before the fiscal year ends on July 7, he said.
“This is one of the key strategies to facilitate and support foreign and domestic private-sector partners and particularly to enhance exports,” Mekonnen said. “It’s key for our industrialization.” More…
Reposted from the Myanmar Times
By Saifulbahri Ismail
YANGON: Emeritus Senior Minister Goh Chok Tong says Myanmar has the opportunity to become the new regional economic powerhouse if the country can succeed in its political and economic reforms.
Mr Goh said both Singapore and Myanmar can complement each other for mutual benefits. More…
Reposted from The Korean Herald
Foreign Minister Kim Sung-hwan (left) meets his Myanmarese counterpart
Wunna Maung Lwin in Naypyidaw, Myanmar
Korea is seeking to carve out its presence in Myanmar as sweeping reforms of the former pariah state entice global powers to tap its huge resource reserves and growth potential.
Despite diplomatic thorns and its limited trade with the country, Korea can capitalize on its experience of rapid industrialization and strength in construction and information technology in engaging what is called one of the next “Asian Tigers,” experts say. More…
Reposted from The Economist
Raul and Fidel Castro
By Michael Rein
Under Raúl Castro, Cuba has begun the journey towards capitalism. But it will take a decade and a big political battle to complete, writes Michael Reid
WHEN ON JULY 31st 2006 Cuban state television broadcast a terse statement from Fidel Castro to say that he had to undergo emergency surgery and was temporarily handing over to his brother, Raúl (pictured with Fidel, left), it felt like the end of an era. The man who had dominated every aspect of life on the island for almost half a century seemed to be on his way out. In the event Fidel survived, and nothing appeared to change. More…
Reposted from The Economic Times
Kali Gandaki Hydro Power Plant in Nepal
KATHMANDU: Nepalese Prime Minister Baburam Bhattarai today invited Indian businessmen to invest in this country’s hydropower sector and promised to create a conducive environment for them.
“Nepal government will focus its attention on developing the hydropower sector which will not only boost economic development of the country but also accelerate the overall development,” Bhattarai said, inaugurating the Hydropower Summit 2012 here. More…