Premier launches construction of Geda Special Economic Zone

Addis Ababa, May 10, 2024 (FBC) – Prime Minister Abiy Ahmed led the inauguration of the Gada Special Economic Zone construction, overseeing the signing of a memorandum of understanding between China Civil Engineering Construction Corporation (CCECC) and the Oromia Regional State for the development of the Lume free trade zone within the Geda Special Economic Zone.

During his address, the Prime Minister emphasized the need to replicate agricultural successes in the industrial sector, underscoring the importance of policy support and robust infrastructure for the zone’s future operations.

“We aim to replicate the successes of our agricultural sector in the industrial domain, and the Gada Special Economic Zone serves as a pivotal platform to realize this vision, unlocking the vast potential of our region and nation,” he said.

With the establishment and operation of the Lume Free Trade Zone within the SEZ, it will become the second free trade area after Dire Dawa, amplifying opportunities for economic growth and development, PM Abiy added.

Situated 65km east of Addis Ababa, this initiative aims to boost exports, establish a trade logistics center, and allure foreign investments, fostering industrial, trade, investment, and urban development.