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Ethiopia: Country, China to Construct First Private Industrial Zone
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The Daily Monitor (Addis Ababa)
19 March 2008
Posted to the web 19 March 2008
Binyam Tamene
Addis Ababa
Ethiopia on Monday signed an accord with a Chinese company for the construction of what is to be the first ever private industrial zone.
Under the agreement, Jiangsu Qiyuan Investment Group will construct the zone in Dukem, a small town some 37 kms on the Addis- Nazareth main road at a cost of five billion China Yuan Renminbi.
"A new type of economy development model based on the almost 20 years' experience from China will appear in Ethiopia," said a written material made available for the media.
The industrial zone whose construction will begin early this year, will encorprate a multi sector industries ranging from investment in textile and garment, shoe, cotton and Jeans processing, leather and leather product, construction machineries, electrical materials and steel manufacturing sectors.
The idea is to build the industries and to invite the private sector-local and international-to invest on the industries of their interest.
The industrial zone is said to have economic achievements where approximately 80 projects will be established allowing the government to obtain RMB 800 million each year in taxes collected after the tax exemption period.
Over 20 Chinese companies have already shown interest to invest in the soon to be established industries.
To be named the Ethiopian Eastern Industrial Zone', the project is expected to create 10-20 thousands of job opportunities.
Speaking after the signing ceremony held at the ministry's premises, Tadesse Haile, State Minister of Trade and Industry said, the project was in line with Ethiopia's development strategy where industrialization was a priority.
"Ethiopian Eastern Industrial Zone (EEIZ) project is the first of its kind investment project in the country designed based on and goes well with our industrial zone development," the minister said The minister said the EEIZ project will impact the country's overall industrial development and the government would provide all the necessary support for the the implementation of the project Jiangsu Qiuan Investment Group President Lu Qi Yuan said on his part he was sure project would become successful with the help of the two governments, Chinese and Ethiopian.
He said now that the agreement was signed, the construction of five projects will begin shortly, as part of the 80-industries projects.
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21 March 2008
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