Addis Ababa, October 2, 2024 (FBC) – Guangzhou Wondfo Biotech Co., Ltd, a Chinese company that produces 200 million medical test kits annually, has stated that it is ready to invest in the Qilinto Industrial Park, in Addis Ababa.
The company’s plan was disclosed during a discussion between Chief Executive Officer of Industrial Parks Development Corporation of Ethiopia, Fisseha Yitagesu, and delegates of Guangzhou Wondfo Biotech.
On the occasion, Mr. Fisseha pointed out that the pharmaceutical sector is among priority sectors in Ethiopia the government has placed due emphasis to this domain. He asserted that the incentives for FDI and conducive investment environment coupled with the government’s attention to the sector are great opportunities for the company to start its investment in the country.
He stated that the participation of Chinese investors have the highest share of FDI in the Ethiopian industrial parks and the Dire-Dawa Free Trade Zone.
Fisseha mentioned that more than 40 Chinese companies are engaged with their full capacity in the industrial parks and have created job opportunities for more than 25 thousand citizens, as mentioned by the Industrial Parks Development Corporation (IPDC).
In response, the delegates of Guangzhou Wondfo Biotech stated that their company will carry out its investment in two phases and indicated that it plans to invest more than 15 million US dollars.
It is indicated that the company is planning to export its future products to other African countries when it is fully operational.
Guangzhou Wondfo Biotech is a Chinese medical diagnostics company that specializes in the production and supply of a wide range of diagnostic reagents and kits, including rapid tests and PCR kits for infectious diseases, tumor markers, and other health-related conditions.
Headquartered in Guangzhou science city, the company has been focusing on the R&D, production, sales and service of point-of-care testing (POCT) products and providing customers with professional rapid diagnosis and chronic disease management solutions since founded in 1992.
Wondfo now has more than 3000 employees and a wide range of products for the rapid identification of cardiovascular diseases, inflammation, tumor, infectious diseases, drug abuse, pregnancy, and so on, widely sold to 150+ countries and regions.