Ethiopia will be “next big thing”
02/04/2014
Mr Mangione said he believed recent investments from China in footwear factories in the African country are important developments, but said what had convinced him that large footwear manufacturing groups are serious about using Ethiopia as a low-cost centre of manufacture was a more recent announcement of Chinese investment in a major infrastructure project to provide a rail link between the capital of landlocked Ethiopia, Addis Ababa, and the port of Djibouti, 750 kilometres away.
At the end of 2013, a Chinese bank said it was prepared to lend up to $3 billion to help the project reach completion.
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