EIC inks several MoUs with various companies

Addis Ababa, April 28, 2023 (FBC) – The Ethiopian Investment Commission (EIC) has signed investment Memorandum of Understandings with various companies from different countries from across the globe.

On the closing event of Invest Ethiopia 2023 international investment forum, EIC signed MoUs with various companies who wish to exploit the captivating investment opportunities in Ethiopia.

The Commission signed an agreement with the Chinese Shan Timber and wood products association for the establishment of the new company investing in 6 sectors worth more than 1 Billion USD.

Huajian Industrial Park has also signed a MoU with 21 companies that are interested to base their projects inside the park. It is noted that the total capital of the companies is expected to be 96.2 million USD.

It is indicated that the companies will engage in producing Glass, metal, footwear, aluminum, healthcare, car assembling, packaging, and among many others. Today’s MoU signing agreement is worth 1.645 Billion dollars capital in total.

EIC also inked MoU with Chen (Shi Chinese-based company) for the establishment of a new project in wood processing plant furniture. The estimate of the investment is said to be worth 8mil.USD.

Ethio Chicken has also signed an MoU for an expansion project on the Grand plant on poultry exporting USD 20 million.

Meanwhile, the Commission inked an MoU with Unilever and Africa Nutritional Food for another new investment project with more than 45 million USD on a high nutrition processing plant a new deal.

Moreover, as a deal-making session, EIC signed MoU with Sinoma Cement Co. with 500 million USD.

After the recap session of the Invest Ethiopia 2023 Investment Forum is over, it is disclosed some interested companies will also pay a visit to Industrial parks including Dire-Dawa free Trade Zone where they would experience and learn about the investment opportunities in practice.