IPDC invites Chinese manufacturing firms to invest in Ethiopian IPs

Addis Ababa, October 27, 2022 (FBC) – The Ethiopian Industrial Parks Development Corporation invited Chinese investors and manufacturing companies invest in industrial parks in Ethiopia and

IPDC also called on the existing firms in industrial parks of Ethiopia to expand their investments.

The Corporation held an online discussion with the Ethiopian Ambassador to China, Teshome Toga, the head of the embassy’s mission, as well as finance and economic heads on investment opportunities.

IPDC’s Deputy Chief Executive Officer, Shiferaw Solomon and other officials and experts of the sector participated in the online discussion.

At the same time, Ambassador Teshome Toga praised the Corporation’s efforts to promote investment opportunities in industrial parks in Ethiopia.

On his part, the Deputy CEO of the Corporation, Shiferaw Solomon, appreciated the efforts of Chinese manufacturing firms in the industrial parks.

He stated that despite pressure from various sectors due to Ethiopia being blocked from using African Growth and Opportunity Act (AGOA), IPDC will play its part to find other market options to expand their products.

For this reason, the Corporation is working closely and in coordination with Chinese manufacturing companies.

According to reports from IPDC, an agreement has been reached to hold discussions with other concerned stakeholders in the sector.

It has been pointed out that there are more than 22 Chinese manufacturing companies inside Ethiopian industrial parks.