Labor rights among its concerns
The American PVH corporation’s clothing company is to consult with the government and consultants on investment opportunities in Ethiopia, according to a press conference it gave here on Monday.
Tadesse Haile, Minister of State for Industry, stated the success and setbacks of Ethiopia’s investment opportunities. Responding to various questions from members of the delegation, he asserted that Ethiopia was ready to host giant global companies. “There are no restrictions at all,” he said. He said Ethiopia offered a hundred percent guarantee on business and no restrictions in the investment law.
Highlighting the double digit growth, dependable energy supply and low inflation rate, Tadesse clarified the investment policy that had been reviewed to ease bureaucracy and mistreatment. “With prudent management policy and strong economic growth, we have achieved 10 per cent growth during the last two decades and lowered the inflation by 7 percent right now,” he said. The 6,000 MW hydropower from the Grand Ethiopian Renaissance Dam (GERD) project was expected to be finalized in three years’ time. The 1800 MW hydropower from Gilgel Gibe III is due to be operational one year’s time
Bill McRaith, Chief Supply Chain Officer, PVH Corp, told The Reporter that he had seen quite an encouraging situation in Ethiopia similar to what he saw in China in 1990 while operating the company there. “We are incredibly curious,” he said. He, however, pointed out that infra structure should come ahead of need. “China is the only country whose infrastructure goes ahead of need.” Moreover, he took the opportunity to talk about labor rights as he explained some of the fastest investments in some countries had yielded bad human rights consequences. “I continue to ask this question every time I come,” he reiterated.
PHV Corp. is the world’s largest shirt company owning brands such as Tommy Hilfiger and Calvin Klein. Ethiopian business consultants who returned from abroad also briefed the delegation citing various encouraging policies and abundant potential in the country. “We have come through quite a hard situation in facilitating such an event to occur, and here is the fruit,” Guenet Fresenet, Division Manager Southwest Sourcing, said. The delegation also paid a short visit to investment sites in Addis Ababa.
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