In the aim of boosting investment cooperation and establishing industrial parks, Ethiopia and 2 companies from Jiangsu Province, China, signed Memorandum of Understandings (MoUs) on June 1, 2015.

The companies are Jiangsu AB Group Corporation Ltd and Jiangsu Zheng Bai Electric while the MoUs is aimed at luring Jiangsu based investors to Ethiopia.

The MoUs will also enhance exchange of valuable experiences which will assist the development of industrial parks. They will also create chance for an increased promotion of investment and strengthen domestic capacity.

Commenting on the development Fitsum Arega, Commissioner for Ethiopian Investment Commission, said the MoUs would contribute greatly in gaining experience to develop industrial parks in Ethiopia and also share experience to local investors engaged in textile and electronic sectors.

Source: Ethiopian News Agency