American millionaire envisions Ethiopia as the next China
Omer Redi
September 15, 2007
Addis Ababa, An American millionaire made a prety bold statement that with current economic growth trends and all the tremendous potentials just starting to be exploited Ethiopia could become the next China.
The American millioinare Victor Ozeri
The millionaire who owns five companies in USA and Asia, with 20 factories in China producing 38 million handbags and another factory producing 20 million mobile phone cases for Motorola annually, said what he sees in Ethiopia now is what he had seen in China 20-25 years ago.
"I have come here because I see so much potential in Ethiopia. The last five years I'm here I see so much potential in Ethiopia. I believe Ethiopia can be the next China. I'm sure of it.....I look at what Prime Minister Meles (of Ethiopia) is doing here. Ato (Mr.) Melese is building roads, he is building bridges. I come every six month and I look from (the) balcony of my hotel and I see a sky line getting born. He knows what he is doing. And I certainly realize that what's happening in Ethiopia now is what has happened in Chiona 25 years ago. It (the Ethiopian economy) is about to explod. The Ethiopian people may not see it and if I were not in China 25 years ago I couldn't notice it.
Ozeri, who is also building a garment factory in partnership with an Ethiopian woman investor, stated that the country's economy is about to explode and Ethiopia is the place that the world has to come to next.
The American investor who specializes in handbag manufacturing also said he would establish handbag manufacturing company in Ethiopia in addition to the significant amount of investment he is putting into the garment factory as he has observed a stable government and encouraging investment atmosphere.
Though there are lots of incentives to attract investors to Ethiopia, naming the AGOA opportunity which he said is a tremendous saving to be earned from investing in Ethiopia, a lot remains to be done in promoting the available incentives to the world, according to Ozeri.
The Ethiopian investor partnering with Victor Ozeri, Lily Betru, on her part said the garment factory to go operational in 4-6 months time would create jobs to about one thousand Ethiopians.
According to her, the factory would solely manufacture garment for export.
Ozeri who is famous for being the first person from his sector to go to communist China in 1981and who considers himself to have contributed to China's economic boom also runs charitable organizations in Ethiopia and New York.
Currently his NGO helps 120 girls attend private schools while being provided shelter and food in a facility he built, it was learnt.
The American millioinare Victor Ozeri
The millionaire who owns five companies in USA and Asia, with 20 factories in China producing 38 million handbags and another factory producing 20 million mobile phone cases for Motorola annually, said what he sees in Ethiopia now is what he had seen in China 20-25 years ago.
"I have come here because I see so much potential in Ethiopia. The last five years I'm here I see so much potential in Ethiopia. I believe Ethiopia can be the next China. I'm sure of it.....I look at what Prime Minister Meles (of Ethiopia) is doing here. Ato (Mr.) Melese is building roads, he is building bridges. I come every six month and I look from (the) balcony of my hotel and I see a sky line getting born. He knows what he is doing. And I certainly realize that what's happening in Ethiopia now is what has happened in Chiona 25 years ago. It (the Ethiopian economy) is about to explod. The Ethiopian people may not see it and if I were not in China 25 years ago I couldn't notice it.
Ozeri, who is also building a garment factory in partnership with an Ethiopian woman investor, stated that the country's economy is about to explode and Ethiopia is the place that the world has to come to next.
The American investor who specializes in handbag manufacturing also said he would establish handbag manufacturing company in Ethiopia in addition to the significant amount of investment he is putting into the garment factory as he has observed a stable government and encouraging investment atmosphere.
Though there are lots of incentives to attract investors to Ethiopia, naming the AGOA opportunity which he said is a tremendous saving to be earned from investing in Ethiopia, a lot remains to be done in promoting the available incentives to the world, according to Ozeri.
The Ethiopian investor partnering with Victor Ozeri, Lily Betru, on her part said the garment factory to go operational in 4-6 months time would create jobs to about one thousand Ethiopians.
According to her, the factory would solely manufacture garment for export.
Ozeri who is famous for being the first person from his sector to go to communist China in 1981and who considers himself to have contributed to China's economic boom also runs charitable organizations in Ethiopia and New York.
Currently his NGO helps 120 girls attend private schools while being provided shelter and food in a facility he built, it was learnt.
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