Korean Companies Interested in Developing Industrial Parks in Ethiopia

posted on Thursday, November 30th, 17

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 Addis Ababa November 29/2017South Korean companies that are assessing business opportunities in Ethiopia have expressed desire to invest in Ethiopia in various investement sectors including development of industrial parks.

While discussing with President Mulatu Teshome here today, the South Korean business delegation named Innovation-Business (INNOBIZ) expressed desire to invest in Ethiopia.

Chairman of INNOBIZ and Honorable Consul of Ethiopia in South Korea's Busan province, Sang Jin Kim said “We have a lot of technological innovations in every sector so we are looking for what Ethiopia needs from Korea”.

He added that “If the industry park for Korea established, it will probably try to encourage all the private sectors to come and to invest in export oriented manufacturing”.

During the discussion one of the giant companies of Korea, Young-HWA has announced plan to establish an industrial park in Adama on 200 hectares of land, according to  Aklilu Hailemichael state minister of MoFA.

The proposed industrial park will create from 20,000 to 30,000 jobs, according to the State Minister.

Agro-Business including coffee processing and construction were among the priority areas of the Korean companies in addition to the development of industrial parks.

Some 27 people representing 21 giant South Korean companies are in Ethiopia to assess investment atmosphere and opportunities and study priority areas of the government of Ethiopia.

The delegation has been engaged in discussions with various officials and visited industrial parks as part of their assessment on investment atmosphere and opportunity.


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