Agreement reached to lure Brazilian investors to Ethiopia

Addis Ababa, August 17, 2023 (FBC) – The Industrial Parks Development Corporation of Ethiopia confirmed that an agreement has been reached to entice Brazilian investors to engage in industrial parks in Ethiopia and to create market linkage in Brazil for products of the existing manufacturers in IPs.

The agreement was reached during a meeting between the Industrial Parks Development Corporation of Ethiopia (IPDC) CEO, Aklilu Tadesse, and Jandyr Ferreira Dos Santos, Ambassador of Brazil to Ethiopia.

In their discussion, the two dignitaries exchanged views on ways of strengthening the long-standing relations between Ethiopia and Brazil in multilateral areas through investment and related fields.

Thus, they reached an agreement to enable Brazilian investors to invest in Ethiopian industrial parks and to establish market linkage in Brazil for products manufactured in Ethiopian IPs.

It is indicated that the IPDC CEO and the Brazilian Ambassador advised on issues pertaining to expanding Brazil’s vast experience in manufacturing sector, in agro-processing in particular, into the investments under IPDC.

For his part, the Ambassador of Brazil to Ethiopia, Jandyr Ferreira dos Santos, stated that Ethiopia has huge potential in agro-processing sector. He affirmed that he is ready to work in cooperation to enable investors engaged in the sector in Ethiopia to gain Brazil’s experience.

According to IPDC, they also agreed to organize a joint business forum which involves various stakeholders.