{"id":18890,"date":"2023-02-24T19:58:25","date_gmt":"2023-02-24T19:58:25","guid":{"rendered":"https:\/\/www.africa-press.net\/ethiopia\/all-news\/east-african-share-company-signs-mou-to-develop-expand-industrial-park-with-108-million-usd"},"modified":"2023-02-24T19:58:25","modified_gmt":"2023-02-24T19:58:25","slug":"east-african-share-company-signs-mou-to-develop-expand-industrial-park-with-108-million-usd","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ethiopia\/all-news\/east-african-share-company-signs-mou-to-develop-expand-industrial-park-with-108-million-usd","title":{"rendered":"East African Share Company Signs MoU to Develop, Expand Industrial Park with 108 Million USD"},"content":{"rendered":"

Africa-Press – Ethiopia. <\/strong><\/span>The East African Holding Share Company has signed a Memorandum of Understanding (MoU) to develop and expand an industrial park with 108 million USD with the Ethiopian Investment Commission (EIC) today.<\/p>\n

The industrial park, which is expected to accommodate manufacturing, agricultural products processing and many other sectors, will be built and expanded on 100 hectares of land in Bishoftu town.<\/p>\n

Investment Deputy Commissioner Daniel Teressa and East African Holding Share Company CEO Biru Wolde signed the MoU.<\/p>\n

The deputy commissioner said at the signing ceremony that the commission is working to promote the country\u2019s economy by promoting investment options, especially by attracting FDI and establishing a system that allows private park developers to participate widely in the industrial park development sector.<\/p>\n

According to him, the industrial park to be built and expanded will play an important role in creating economic revitalization and contribute greatly by creating job opportunities and encouraging exports.<\/p>\n

Deputy Commissioner Daniel disclosed that Ethiopia has attracted close to 2 billion USD in Foreign Direct Investment (FDI) during the last six months.<\/p>\n

East African Holding Share Company Chairperson, Bezuayehu Tadele, said that the indigenous company has been playing significant role in creating wide employment opportunities and earning foreign currency.<\/p>\n

The project expected to be finalized in the next four years will create 15,000 jobs and enhance export, he added.<\/p>\n

East African Holding Share Company was established as an umbrella company comprising sister (subsidiary) companies which operate in a variety of sectors such as manufacturing of fast moving consumer goods, agriculture, agro-processing, printing and packaging, transport, real estate, cement production and coal mining.<\/p>\n

It is also involved in the export of washed Ethiopian coffees and has a roasting and packing facility to supply the local market.<\/p>\n

For More News And Analysis About Ethiopia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ethiopia. The East African Holding Share Company has signed a Memorandum of Understanding (MoU) to develop and expand an industrial park with 108 million USD with the Ethiopian Investment Commission (EIC) today. 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The East African Holding Share Company has signed a Memorandum of Understanding (MoU) to develop and expand an industrial park with 108 million USD with the Ethiopian Investment Commission (EIC) today. 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