BY TSEGAYE TILAHUN
ADDIS ABABA – 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. The envisaged projects are aimed to establish investment projects in the pharmaceutical and packaging products manufacturing in Kilinto and Bole Lemi industrial parks.
On the occasion, EIC Commissioner Lelise Neme reaffirmed the commitment of the government to strengthen Pakistan’s investment in Ethiopia. The MoU has paramount importance towards establishing long-term collaboration between the two parties. The development of the Pakistani-Ethiopia Friendship Industrial Park is planned to be built with a capital of 100 million USD and is anticipated to attract investments in various manufacturing activities, it stated.
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. It 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. The Pakistani trade delegation is keenly interested in establishing a company in Ethiopia and increasing its presence in the African market, it was learnt.
THE ETHIOPIAN WEDNESDAY 15 MARCH 2023
