One Wuxi enterprise invests in building textile production base in Ethiopia
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On November 2, the contract of Guolian Group's first foreign investment project of industry—Wuxi No.1 Cotton Ethiopia Yimian Textile Production Base was officially signed. Wuxi No.1 Cotton will build a 300-thousand-yuan spindle textile production base in Ethiopia in order to speed up the pace of “Going Global”. Wang Quan, Mayor of Wuxi, met Deputy Chairman of Ethiopia Committee on Trade and Investment and attended the signing ceremony. Xu Lixin, Secretary General of Wuxi Municipal People’s Government, attended the activity, too.

Wang Quan congratulated the signing of the project. According to him, at present, Wuxi is speeding up the development of economic restructuring, adhering to the priority of quality and benefit and accelerating the construction of new heights of modern industrial. One of the important measures is to actively seize the opportunity of “Belt & Road Initiative”, give full play to its comparative advantage industry, support more enterprises to "go out", and participate in the growing of international cooperation and competition. Ethiopia, known as "the roof of Africa", has rich natural resources and human resources. In recent years, it has made remarkable achievements in economic development. In the background of friendly cooperation and exchanges between China and Egypt, the trade cooperation between Wuxi and Ethiopia has entered a new stage. Both Wuxi Jinmao Co., Ltd. and Jiangsu Sunshine Group have invested in Ethiopia. The project is another important practice of responding to “Belt & Road Initiative” and promoting international industrial capacity cooperation. The implementation of the project can not only accelerate the pace of transformation and upgrading of Wuxi No.1 Cotton, but also build a good example for Wuxi enterprises to "go out".

Wuxi No.1 Cotton and Ethiopia local government and enterprises will strengthen communication and cooperation, meticulously organize construction and operation project, and take the project as a starting point to promote the exchanges and cooperation between Wuxi and Ethiopia in more areas, promote economic development and benefit people.

According to the Chairman, Ethiopia is actively learning China's development model and building Ethiopia into a leading manufacturing center in Africa. The investment project of Wuxi No.1 Cutton will help Ethiopia to accelerate economic restructuring and upgrading. Thus, Ethiopia attaches great importance to the construction of this project and will go all out to provide support and services to ensure the smooth implementation of the project.