Addis Ababa, April 26, 2024 (FBC) – Chinese investments have significantly contributed to the advancement of Ethiopia’s manufacturing sector, and industry stakeholders are keen to assist Chinese investors looking to enter the East African country, said Aklilu Tadesse, CEO of the Ethiopian Industrial Parks Development Corporation (IPDC).
Chinese investors currently represent the largest group of foreign investors in industrial parks managed by the IPDC, Aklilu said Wednesday during discussions with potential Chinese investors that have expressed their interest to invest in the country’s industrial parks.
Aklilu reaffirmed Ethiopia’s commitment to enhancing cooperation with China in developing industrial parks to fulfill its goal of becoming the manufacturing hub of Africa.
In a statement, the IPDC emphasized Ethiopia’s aspiration to remain China’s preferred destination in Africa for the development of industrial parks and investments within them.
Chinese engagement has played a vital role in Ethiopia’s efforts to construct and operate industrial parks, supporting the country’s economic restructuring toward industrialization, the statement said.
According to recent data from the IPDC, more than 130 local and foreign investors are currently involved in various sectors across 12 industrial parks and one free trade zone in Ethiopia.
These industrial parks have created permanent and temporary employment opportunities for over 100,000 Ethiopians, particularly the country’s youth.