Ethiopian is aspiring to lure anchor companies to engage in the development of integrated agro-industrial parks, as it is preparing to build such parks.
It is believed that the first International Agro-Industry Investment Forum that is being held in Ethiopia will create opportunity to lure investors.
The forum organized jointly by the Ethiopian government and United Nations Industry Development Organization (UNIDO) is in session from 5-7 October, 2016 in Addis Ababa.
The forum, which is promoting the potential and opportunities in the field is expected to attract anchor companies in the development of agro-industrial parks as well as forging partnerships between local and foreign investors.
As the nation is planning to build four agro-industrial parks, the forum will provide an opportunity for potential investors to engage in the development of the park, in which their construction is set to begin this month.
Feasibility study has already completed to build integrated agro-industrial parks in four regional states namely Amhara, Tigray, Oromia and Southern Nation, Nationalities and People’s state.
UNIDO Regional Director Jean Bakore agrees on the chance that the forum will bring to Ethiopia, saying the objective of the forum is to attract more investment into the development of integrated agro-industrial parks. “So when we develop such kind of business plan [development of integrated agro-industrial parks] to develop such activities you need to have access to the massive investment and that is why we have deiced to organize this event”, he said. The plan is to increase the number of agro-industrial parks to 17, following the completion of these parks, he said.
“We are expected to increase the number of integrated agro industrial parks from 4 to 17 which is absolutely important. We are intending to demonstrate to our partners that this would materialize if we manage to establish these integrated agro-industrial parks which are also expected to create more job opportunities for youth in the country”, he added.
Besides, creating a kind of alliance between local and foreign investors, the forum is important to showcase the commitment of the government, he added. “It is very important for creating a very important momentum which will show to everybody that the government is committed to provide supports through particular incentives.”
The forum is also focusing on mobilizing additional private investment in light manufacturing, with a particular focus on textiles and garments, as well as leather and leather products as important components of integrated agro-industrial parks, he indicated.
The government is not only providing leadership but is also putting enough resources to attract all investors from local and abroad, the Regional Director added.
The forum has attracted participants from the public and private sectors, including representatives of the Ethiopian government, domestic and anchor investors, domestic enterprises, international financial institutions, international organizations, among others.
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