IPDC, Asia-Africa Chamber of Commerce sign MoU to increase investment in IPs

Addis Ababa, July 19, 2023 (FBC) – Ethiopian Industrial Parks Development Corporation (IPDC) and the Asia-Africa Chamber of Commerce signed a memorandum of understanding to work together.

The MoU was signed by Aklilu Tadesse IPDC CEO and Gidi Sing, President of Asia-Africa Chamber of Commerce.

IPDC CEO, Aklilu Tadesse on the signing ceremony said that the MoU will help to strengthen the long-standing trade and investment relationship between Asia and Africa and it will significantly increase the investment interest of Asian investors in industrial parks.

Aklilu added that the MoU will play a major role in strengthening the industrial culture in Ethiopia and especially in the growth of the manufacturing sector.

“It is important to strengthen the relationship with the Chamber of Commerce for both Ethiopia and IPDC” the CEO stated.

Asia Africa Chamber of Commerce President Gidi Sing on his part stated that the signing of the MoU with the IPDC will help many investments to come to the Industrial Parks that IPDC manages.

In particular, he confirmed that chamber of commerce will work hard for investors to invest in the industrial parks built according to international standards.

60 % of those who have invested in the industrial parks managed by IPDC are Asian investors, and they are playing their part in job creation, foreign exchange and technology transfer.