Addis Ababa, July 19, 2023 (Walta) Ethiopian Industrial Park Development Corporation (IDPC) and Asia-African Chamber of Commerce signed a Memorandum of Understanding (MoU) to work together in various areas of the sector.
The agreement was signed by IPDC CEO, Aklilu Tadesse, and Gidi Sing (Ph.D.), President of the Asia-Africa Chamber of Commerce.
Speaking at the occasion, the IPDC CEO, Aklilu Tadesse, said that the MOU will help to strengthen the long-standing trade, investment, and relationship between Asia and Africa, and it will significantly fulfill the investment interest of Asian investors in industrial parks.
He added that the MoU will play a vital role in strengthening the industrial culture in Ethiopia, especially in the development of the manufacturing sector. In addition, he underscored that it is important to further strengthen the tie with the Chamber of Commerce for the benefit of Ethiopia as well as the IPDC.
The Asia-Africa Chamber of Commerce President, Gidi Sing (Ph.D.), on his part, indicated that the signing of the MoU with the IPDC will help many investments to come to the Industrial Parks under IPDC management.
He also reiterated that the Chamber of Commerce will endeavor to encourage investors to invest in industrial parks built with international standards.
According to IPDC, about 60 % of the investment in the industrial parks managed by IPDC is run by Asian investors, who play a significant part in job creation, foreign exchange, and technology transfer.