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E-mail Xinhua, October 4, 2024
The Ethiopian Industrial Parks Development Corporation (IPDC), a public enterprise overseeing the country's manufacturing sector, has praised Chinese investors for their significant contributions to Ethiopia's economy and job creation through their operations in the nation's industrial parks and first free trade zone.
According to a statement released by the corporation Wednesday, IPDC Chief Executive Officer Fisseha Yitagesu made this remark during discussions with potential Chinese investors keen on entering Ethiopia's industrial parks.
Chinese investors form the largest group of foreign investors in the 13 industrial parks and the recently established Dire Dawa Free Trade Zone, which the IPDC manages, Yitagesu said. He added that over 40 Chinese companies operate at full capacity within these parks, creating more than 25,000 jobs, primarily for Ethiopian youth.
As Africa's second-most populous country, Ethiopia has demonstrated a strong commitment to deepening its cooperation with China in industrial park development, with the long-term goal of becoming the continent's manufacturing hub. Recently, the Ethiopian government invited Chinese electric vehicle (EV) manufacturers to explore opportunities for producing and assembling EVs in the country.
Yitagesu encouraged Chinese investors to explore opportunities in Ethiopia's industrial parks and free trade zone, as the Ethiopian government is focusing on strengthening its manufacturing sector. He also noted the incentive packages and support available to potential investors, which aim to ensure a smooth and swift start to operations for Chinese companies.
The IPDC, he said, will continue providing support and oversight throughout the investment process.
According to recent IPDC data, hundreds of local and foreign investors are active in Ethiopia's industrial parks, many of which were developed by Chinese firms. These facilities have generated both permanent and temporary jobs for over 100,000 Ethiopians.
