UAE’s Firm Keen to Invest in Ethiopia’s Textile, Mining Sectors

ADDIS ABABA – United Arab Emirates-based AL Asalah Electromechanical Contracting Company announced plans to invest in textile and mining sectors in Ethiopia.

Representatives of the company has also expressed its interest to engage in personal hygiene and household cleaning manufacturing in the East African nation.

Ambassador Aklilu Kebede held discussion with the management of the Electromechanical Contracting Company about Investment opportunities in Ethiopia on Monday.

The company intends to invest in Ethiopia in textiles, personal hygiene and household cleaning products, the ministry of foreign affairs said in a statement issued after the discussion.

Its officials also intend to invest in mining in a joint venture with Ethiopian-based New Line Trading Plc, it added.

Al Asalah’s representatives are expected to come to Ethiopia for a pre-investment visit this week. They will hold meetings with officials of the Ethiopian Investment Commission and other concerned offices, according to the Foreign ministry.