A Consultancy firm based in Addis Ababa
Shangtex Holding Co. Ltd has signed a lease agreement with the Ethiopian Industrial Parks Development Corporation to invest at Bole Lemmi II Industrial Park.
Shangtex is the second largest textile company in China.
The agreement was signed here by Lelise Neme, CEO of the Corporation and representative of the Chinese company.
Lelise said on Twitter that the company will invest $65 million at the industrial park and create jobs for more than 4,000 people.
Source – Fana Broadcasting Corporate
China Civil Engineering Construction Corporation (CCECC) on signed an agreement with Ethiopia Dire Dawa city administration to construct an industrial park in the city.
The agreement was signed by Ahmed Bohh, Deputy Mayor of the Dire Dawa City Administration and Guo Chongfang, CEO of CCECC.
CCECC has a plan to build the industrial park on a total of 370 hectares of land.
The Dire Dawa industrial park will mainly be used as a textiles manufacturing
Continue reading “CCECC To Build Industrial Park In Dire Dawa”
Ethiopia is one of the fastest growing countries in the world. Its current population of over 100 million is expected to double in the next 30 years, hitting 210 million by 2060. Due to this accelerated surge in population growth, the country is facing a critical challenge of creating enough jobs.
The Ethiopian government identified industrialization as the means to transform the economy, reduce poverty, provide jobs, and achieve the ambitious aim of transitioning the economy to lower-middle-income status by 2025. But growth in the manufacturing sector lags.
Continue reading “Ethiopia’s Industrial Parks are Making Jobs a Reality”Amid Africa’s growing quest to boost the manufacturing sector, experts from the continent and beyond have commended Chinese engagement in giving Africa a helping hand.
Speaking to Xinhua on Wednesday, Arancha Gonzalez, Executive Director of International Trade Center (ITC), emphasized China’s growing engagement and interest in Africa’s existing and emerging potential areas driving the continent’s industrialization.
Continue reading “Chinese engagement driving Africa’s industrialization”
Ethiopia attracted 3.1 billion US dollars Foreign Direct Investment (FDI) in the concluded Ethiopian fiscal year which ended July 7, 2019.
Ethiopian Investment Commission disclosed today that Ethiopia is the biggest FDI recipient in east Africa nations and the fifth largest FDI destination in Africa as a whole.
German Development Cooperation (GIZ) has expressed its continued commitment to support investors who are keen on engaging in Industrial Parks of Ethiopia and its inclusive development.
Program Manager for Special Initiative Job Creation and Sustainable Program at GIZ, Ulrich Plein told Ethiopian News Agency that GIZ is working with Industrial Park Development Corporation, Ethiopian Investment Commission to improve industrial parks development.
Continue reading “Germany Vows to Shore up Ethiopia’s Industrial Parks Development”
Ethiopia earned 140.6 million US dollars in export revenue from industrial parks in the concluded Ethiopian fiscal year, ended July 7, 2019, according to Ethiopian Investment Commission.
Ethiopian Investment Commission Public Relations Director, Mekonnen Hailu said that the performance of the export from the industrial parks exceeded that of same period last fiscal year by 57 percent.
Continue reading “Ethiopia Secures Over $ 140 Million USD Export Revenue from Industrial Parks”
Japanese trading house Itochu will provide support for Africa’s textile industry, starting in Ethiopia, which has emerged as an alternative production base to Asia, Nikkei has learned.
Apparel production has been shifting from China to other Asian countries, such as Myanmar. But rising wages in Asia have increased the appeal of Africa, which offers substantial savings on personnel.
Continue reading “Garment wars: Japan backs Ethiopia’s effort to build up exports”