ADDIS ABABA Nike Air VaporMax Pas Cher , June 24 (Xinhua) -- Ethiopia's flagship Chinese-built Hawassa Industrial Park has proved successful in just less than a year as it has attracted various world-class textile and apparel companies to the east African country.
One among the renowned companies that have shown interest in the Hawassa Industrial Park is PVH, a company known for marketing diversified portfolio of brands including Calvin Klein and Tommy Hilfiger. The company has already established its first manufacturing industry in the Hawassa industrial park.
The industrial zone has so far welcomed 18 companies that have already started operations inside the industrial park. Six of them are presently exporting their products to the international market.
The east African country has targeted to generate 1 billion U.S. dollars annually once the park starts operations at its full potential.
Built by China Civil Engineering Corporation (CCECC), the Hawassa industrial park, located in Ethiopia's southern city of Hawassa Nike Air Max 96 Pas Cher , some 275km south of the capital Addis Ababa, was initially completed in a record time of nine months back in July 2016.
Ethiopian Prime Minister Hailemariam Desalegn, speaking at a ceremony marking the park's official operation commencement on Monday, said that his country's favorable business environment is drawing a growing number of foreign investors and huge Foreign Direct Investment (FDI).
The premier further asserted that the Hawassa industrial park can be seen as a "foundation in Ethiopia's ambition to be the manufacturing hub of the African continent."
The Ethiopian Investment Commission has also announced its plan to replicate the best lessons obtained from the Hawassa Industrial Park to other parks being built across the country.
The Ethiopian government highly believes that the development of industrial parks is the major path for the country to realize its vision of becoming manufacturing powerhouse in the African continent.
In this regard Nike Air Max 360 Pas Cher , the country has budgeted more than one billion U.S. dollars for the construction of industrial parks in the second five-year Growth and Transformation Plan (GTP-II) period, effective from 2015 to 2020.
The Ethiopian government expects the development of industrial parks throughout the country would increase the share of the manufacturing sector to the country's agriculture sector dominated GDP, in which the manufacturing sector stood at only 5 percent for many years.
After proved successful by attracting PVH to the flagship Hawassa industrial park as an anchor company, the Ethiopian Investment Commission has planned to replicate this plan further to Mekele and Kombolcha industrial parks that are expected to be operational by the end of this month.
Mekelle and Kombolcha Industrial Parks Nike Air Max 97 Pas Cher , located some 783km and 252km north of the capital Addis Ababa respectively, are also under construction by Chinese companies.
The Ethiopian Investment Commission is eyeing on Vanity Fair and H&M, among other companies, to make establishment in the two parks that are dedicated to the textile and apparel sector.
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Japan’s SoftBank Group Corp is offering to purchase shares of Uber Technologies Inc at a valuation of US$48 billion Nike Air Max TN Pas Cher , a 30 percent discount to its most recent valuation of US$68.5 billion, a person familiar with the matter said on Monday.
The investment, which was approved by the Uber board in October, would also trigger a string of governance changes at Uber that would limit some early shareholders’ voting power Nike Air Max 98 Pas Cher , expand the board from 11 to 17 directors and cut the influence of former Chief Executive Travis Kalanick.
The investment and board moves are supported by new Chief Executive Dara Khosrowshahi and come at the end of a year of scandals and change for Uber, including the announcement last week that executives covered up a major hack in 2016.
The consortium of investors led by SoftBank and Dragoneer Investment Group plan to take a stake of at least 14 percent in the ride-services company. The tender offer was set to launch yesterday, sources told Reuters, and investors have nearly a month to respond.
The SoftBank-led investor group will acquire two of the new board seats Nike Air Max 2017 Pas Cher , with the remaining four going to independent directors.
If there are not enough interested sellers, SoftBank can still walk away from the deal. SoftBank is also expected to make a separate US$1 billion investment in the company at the US$68.5 billion valuation.
Another person familiar with the deal said the offer price was in line with what investors had been expecting. SoftBank’s offer is close to what Uber was worth in 2015, when shares were priced a little under US$40 apiece for a US$51 billion valuation, according to data from PitchBook Inc.
Even at the discounted price Nike Air Max 1 Pas Cher , Uber is the world’s second-highest valued private venture-backed company, after China’s ride-service company Didi Chuxing, and the offer is a chance for early investors to lock in substantial profits and for employees to cash in shares that have to date only had value on paper. Shareholders, including employees Nike Air Max Thea Pas Cher , with at least 10,000 shares are eligible to sell.
Nearly all secondary transactions, when a new investor purchases from existing shareholders, come at a discount to the company’s valuation.
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