Japanese investors say Ethiopian industrial parks conducive for investment
Addis Ababa, December 11, 2023 (FBC) – Japanese investors who participated in the Ethio-Japan Investment Forum and visited some of the industrial parks acknowledged that Ethiopian industrial parks are suitable for investment.
Japanese investors and various officials who participated in the forum visited Bole Lemi and Kilinto Industrial Parks.
During their visit, the members of the Japanese business delegation observed firsthand the infrastructure of the industrial parks, current activities in the factories and the engagement of the existing investors.
The delegates were also briefed about the investment opportunities and incentives they will get if they invest in the industrial parks.
Deputy CEO of Industrial Parks Development Corporation of Ethiopia (IPDC), Mr. Zemen Junedin, noted that despite the long-term friendship between Ethiopia and Japan, the engagement of Japanese investors in the industrial parks is low.
In that regard, IPDC is ready more than ever to welcome and accommodate new Japanese investors, the Deputy CEO pledged.
He said that preparations have been made to allow Japanese investors to engage in various investment sectors, in the manufacturing sector, in particular. The Corporation is working with the Ministry of Foreign Affairs and the Ethiopian Embassy in Tokyo to further increase the participation of Japanese investors in the Ethiopian industrial parks, Mr. Zemen underscored.
The Director of the Inspire Africa Association, Yamaguchi, who led the delegation of Japanese investors, said that the Ethiopian industrial parks are equipped with cutting-edge infrastructure and a comfortable working environment for manufacturing sector, in particular.
The head of the delegation indicated that his association will continue to select Japanese investors who want to engage in the industrial parks.
It is to be remembered that the Ethio-Japan Business and Investment Forum aimed at promoting trade and investment opportunities in Ethiopia was held on Friday 8th December at Skylight Hotel, Addis Ababa.
In his opening remarks, Ambassador Gebeyehu Ganga, Director General of Middle East, Asian and Pacific Affairs at the Ministry of Foreign Affairs, stated that Ethiopia is one of the fastest growing African economies with huge potential in a broad spectrum of sectors.
Ambassador Gebeyehu reaffirmed Ethiopia’s commitment to fostering bilateral relations with Japan. Furthermore, he noted that the convergence of Ethiopia’s vast potential and Japan’s technological advantage gives leverage to strengthen economic relations between the two countries.
In addition, Ethiopia’s Ambassador to Japan, Dhaba Debele, said the seminar would strengthen ties between the two countries in various fields, as well as provide an opportunity to gain a deeper understanding of Ethiopia’s potential in agriculture, tourism, manufacturing, mining, and ICT, among others.
As part of the seminar, presentations were given on investment and trade opportunities, incentives, laws, and systems, followed by a discussion.