IPDC inks $3mln investment agreement with Israeli textile firm

Addis Ababa, January 9, 2023 (FBC) – The Ethiopian Industrial Parks Development Corporation (IPDC) has signed an investment contract agreement with an Israeli textile firm, Anbessa Elite Tactical Textile Industry.

Aklilu Tadese, CEO of Industrial Parks Development Corporation, and Leo Isaias, owner and manager of Anbesa Elite Tactical Textile Industry, signed the contract agreement.

Anbasa Elite Tactical Textile Industry agreed to invest more than 3 million USD in the Bahir Dar Industrial Park. It said to be an investment that will create employment opportunities for more than 1000 citizens, according to IPDC.

Furthermore, IPDC CEO, Aklilu Tadese, Ethiopian Investment Commission Commissioner, Lelise Nemie, Bahir Dar City Mayor, Dires Sahalu, and other federal and regional officials visited the Bahir Dar Industrial Park.

They toured the infrastructures built within the industrial park, its One Stop Service and the spaces and production sheds given to local and foreign investors.

The officials, during their visit, called on the local and foreign manufacturing companies, investors and all those engaged in investment to utilize the convenient infrastructure and service provision in the Bahir Dar Industry Park.