Pakistan-Ethiopia Friendship Industrial Park to be built with a capital of $100mln: EIC

Addis Ababa March 14, 2023 (FBC) – The Ethiopian Investment Commission (EIC) and Pakistani Investors have signed a Memorandum of Understanding (MoU) for the establishment of Pharmaceutical, Packaging, and Industrial Park Development projects, according to EIC.

Speaking at the signing ceremony Ethiopian Investment Commission, Commissioner, Lelise Neme reaffirmed the commitment of the government to strengthen Pakistan’s investment in Ethiopia.

She indicated the significance of the MoU towards establishing a long-term collaboration between EIC and Pakistani investors.

On the occasion EIC disclosed the development of the Pakistani-Ethiopia Friendship Industrial Park which is planned to be built with a capital of $100 million.

EIC states that Pakistani-Ethiopia Friendship Industrial Park is anticipated to attract investments in various manufacturing activities.

In its social media post EIC indicated the envisaged projects which aim to establish investment projects in the pharmaceutical and packaging products manufacturing in Kilinto and Bole Lemi industrial parks.

EIC added that the MoU comes as part of the Pakistani trade delegation visit and a keen interest in establishing a company in Ethiopia and increasing its presence in the African market.

The MoU was signed by the EIC and the Pakistani Investor and representative of the Pakistani investment and trade delegation, given the favorable investment climate in Ethiopia and the vast technological and work experience of Pakistani entrepreneurs, EIC stated.

By: Yonathan Yoseph