Addis Ababa, Ethiopia (15 March 2023)
The Ethiopian Investment Commission (EIC) has signed a Memorandum of Understanding (MoU) with Pakistani investors for the development of pharmaceutical, packaging, and industrial park projects. The EIC Commissioner, Lelise Neme, expressed the Ethiopian government’s commitment to strengthening Pakistan’s investment in Ethiopia and the significance of the MoU towards establishing long-term collaboration between EIC and Pakistani investors.
The Pakistani-Ethiopia Friendship Industrial Park, which is planned to be built with a capital of $100 million, is expected to attract investments in various manufacturing activities. The envisaged projects aim to establish investment projects in pharmaceutical and packaging products manufacturing in Kilinto and Bole Lemi industrial parks.
The MoU was signed during the Pakistani trade delegation visit, indicating a keen interest in establishing a company in Ethiopia and increasing its presence in the African market. EIC stated that the favorable investment climate in Ethiopia and the vast technological and work experience of Pakistani entrepreneurs were reasons for the signing of the MoU.