The American millionaire Victor Ozeri said Ethiopia

The millionaire who owns five companies in USA and Asia, with 20 factories in China producing 38 million handbags annually, said what he sees in Ethiopia now is what he had seen in China 20-25 years ago.

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 to attend private schools while being provided shelter and food in a facility he built, it was learnt.

Diplomatic Note: The AU mission ... will not interfere in the internal affairs of the Somali people but support the transitional federal government to train enough security forces to handle Somalia, said Geofrey Mugunya, head of the AU Peace and Security Council. Sources: HAN News Agencies