EIC, Pakistani Investors Sign MoU to Establish Pharmaceutical, Packaging & Industrial Park Dev’t Projects

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EIC, Pakistani Investors Sign MoU to Establish Pharmaceutical, Packaging & Industrial Park Dev’t Projects
EIC, Pakistani Investors Sign MoU to Establish Pharmaceutical, Packaging & Industrial Park Dev’t Projects

Africa-Press – Ethiopia. The Ethiopian Investment Commission (EIC) and Pakistani Investors have signed a Memorandum of Understanding (MoU) for the establishment of Pharmaceutical, Packaging, and Industrial Park Development projects.

The MoU was signed by the Commission and the Pakistani Investor and representative of the Pakistani investment and trade delegation, given the favorable investment climate in Ethiopia and the vast technological and work experience of Pakistani entrepreneurs.

The MoU comes as part of the Pakistani trade delegation visit and a keen interest in establishing a company in Ethiopia and increasing its presence in the African market, the Ethiopian Investment Commission said.

The envisaged projects aim to establish investment projects in the pharmaceutical and packaging products manufacturing in Kilinto and Bole Lemi industrial parks as well as the development of the Pakistani-Ethiopia Friendship Industrial Park planned to be built with a capital of 100 million USD and anticipated to attract investments in various manufacturing activities.

Speaking at the signing ceremony, Ethiopian Investment Commission Commissioner, Lelise Neme reaffirmed the commitment of the government to strengthen Pakistan’s investments in Ethiopia and indicated the significance of the MoU signing towards establishing a long-term collaboration between EIC and Pakistani investors.

More than 80 Pakistani investors had conducted a visit in Ethiopia to explore business and investment opportunities in the country over the past few days.

The business delegation found Ethiopia rich with immense natural resources and untapped potential which make the country a prime location for Foreign Direct Investment.

Subsequent to their visit, the business persons appear likely to invest 1 billion USD in major prioritized manufacturing areas, it was indicated.

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