Honeywell International Inc, American advanced-technology Company, plans to invest in Ethiopia.
With 50 billion US dollars annual sale, the company manufactures aerospace and automotive products; residential, commercial, and industrial control systems; specialty chemicals and plastics; and engineered materials.
The company came to invest in Ethiopia after studying the favorable investment atmosphere of the country, said Fitsum Arega, Commissioner of the Ethiopian Investment Commission (EIC).
Moreover, it came to Ethiopia after taking into account the extensive infrastructures and power development activities carried out by the country, he added.
Honeywell’s move to invest here helps Ethiopia to attain its target of attracting labor intensive and technologically advanced foreign companies in the second Growth and Transformation Plan (GTP-II) period, he said.
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