Italian investors express desire to engage in manufacturing sector in Ethiopia
Addis Ababa, November 1, 2023 (FBC) – Italian investors have expressed their desire to engage in the manufacturing investment sector in Ethiopia.
The desire was disclosed during the meeting between Minister of Industry, Mr. Melaku Alebel, and Italian delegation from Bergamo city – consisting of president and general director of Confindustria Bergamo.
During the discussion with the delegates, the Industry Minister Mr. Melaku noted that Ethiopia has a wide market opportunity, high production capacity, sufficient water resource, electricity and conducive logistics supply as well as integrated agro-processing industry parks.
There are special incentives for the manufacturing industry and other investment areas in Ethiopia, it was indicated.
Melaku reminded that there are currently Italian investors engaged in various manufacturing industries in Ethiopia. He called on other Italian investors to exploit the enticing investment opportunities in the food industry sector.
For their part, the delegates stated that Italian investors are interested to tap the investment opportunities in the manufacturing sector in Ethiopia.
The delegation asserted that Italian manufacturing companies have excellent experience in the manufacturing of different kinds of machinery, food, pharmaceutical, chemical, plastic, and packaging, as well as in the steel sector.
The companies have the capacity to export products worth up to 20 billion Euros per year to other countries, the delegates underscored while expressing their desire to expand further investment by bringing other European investors to Ethiopia.