BRICS membership paves the way for Ethiopia-Iran investment collaboration

Addis Ababa, August 12, 2024 (FBC) – During a meeting between Iranian Ambassador Ali Akbar Rezaei and CEO Fisseha Yitagesu of the Industrial Parks Development Corporation of Ethiopia (IPDC) in Addis Ababa, it was confirmed that efforts will be made to encourage Iranian investors to invest in industrial parks focused on agro-processing and vehicle manufacturing and assembly.

During their meeting, IPDC CEO Fisseha Yitagesu and Ambassador Ali Akbar Rezaei discussed ways to enhance the long-term relationship between Ethiopia and Iran through investment.

Fisseha highlighted that their shared membership in the BRICS group would serve as a foundation for their investment relationship.

He also stated that attracting Iranian investments is part of IPDC’s efforts to attract global investment and diversify its investor base in its investment centers. Additionally, they agreed to collaborate on preparing the Ethiopia-Iran Investment Forum as part of their initial tasks.

Ambassador Ali Akbar Rezaei pointed out that the promising development results seen in Ethiopia, particularly in the energy sector, have created favorable conditions for investment.

He expressed his willingness to facilitate Iranian investors investing in Ethiopian industrial parks, focusing on agro-processing and vehicle manufacturing and assembly sectors.