FAO Chief Economist praises Ethiopian industrial parks’ potential for agro-processing investment

Addis Ababa, August 15, 2024 (FBC) – Maximo Torero Cullen, the Chief Economist of the United Nations Food and Agriculture Organization (FAO), acknowledged that Ethiopia’s industrial parks have created auspicious environment for agro-processing investment.

The FAO Chief Economist made this statement after his visit to Bole Lemi Industrial Park, where he was accompanied by the Ethiopian Ambassador to Italy, Demitu Hambisa, and CEO of Ethiopia’s Industrial Parks Development Corporation, Fisseha Yitagesu.

Mr. Torero is currently visiting Ethiopia and has met with senior government officials, including Deputy Prime Minister Mr. Temesgen Truneh and Minister of Agriculture Girma Amente.  Additionally, Maximo Torrero attended the opening ceremony of the National Agricultural Investment Forum at the Millennium Hall in Addis Ababa.

On Wednesday afternoon, Maximo Torrero visited and observed the production process of Soufflet Malt Ethiopia S.C., a beer malt manufacturer, and other textile manufacturers located within Bole Lemi Industrial Park.

Following his visit, Mr. Torrero stated that Ethiopia’s industrial parks have established a highly conducive environment for investors across various sectors, particularly in agro-processing.

According to him, this development is expected to significantly boost the country’s flow of foreign direct investment (FDI).