Ethiopia has raised massive loans to build four light-manufacturing industrial parks by year-end.
The projects, to be built by Chinese construction companies, are named Jimma, Adama, Dire Dawa and Arerti. While Adama has already attracted a US$1 billion investment for a sheep wool factory, Arerti will produce building materials and ceramics, the Ethiopian government reports. Through funding from the EU, UK and other sources, the country will invest US$500 million in each project (Jimma in the south-west, Adama in the south-east, and Dire Dawa and Arerti in the east).
Belachew Mekuria, commissioner of the Ethiopian Investment Commission (EIC) says the collaboration between Ethiopia and China is helping the country achieve its 2025 targets. ‘We’re encouraging … [Chinese companies] to build their own manufacturing-focused industrial parks to achieve our goals of having 30 by 2025 and creating job opportunities for 200 000 people annually.’
The Africa Investment Index 2018 ranked Ethiopia as among the top 10 most attractive investment destinations in Africa.
The EIC also plans to start construction of a fifth development, the Ayisha Industriual Park, during the 2018/19 financial year. Located in the country’s north-west, near Djibouti port, this development will ease logistics costs for the transport of goods between landlocked Ethiopia and Djibouti.
