Source: Xinhua| 2017-06-18
ADDIS ABABA, June 17 (Xinhua) — Ethiopia will have an industry zone dedicated to Japanese Companies for the first time, to be built on the outskirts of its capital city Addis Ababa.
The statement was made on Saturday by Arkebe Oqubay, Special Advisor to Ethiopian Prime Minister Hailemariam Desalegn explaining the country’s manufacturing ambitions.
“The industry park will be built on 40 hectares of land, and will accommodate Japanese companies from diverse sectors including more high tech firms,” said Oqubay.
Japanese private investment in Ethiopia lags quite significantly from investments by Turkish, Indian and Chinese counterparts.
With around 100 million strong population, Ethiopia also hopes industry parks will give ample employment opportunity to a growing labor force estimated to grow by 2 million annually and boost Foreign Direct Investment (FDI) into its growing economy.
There are currently about 10 industry parks across Ethiopia that have been built or under construction
Ethiopia recorded 3.2 billion U.S. dollars of FDI in 2016, but has plans to increase it 10 times in the coming years.