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Indonesia is interested in increasing ties with Ethiopia in a range of investment sectors. The strong and friendly ties between the two countries can serve as basis of increasing economic ties in spite of the poor global economic situation said Ramli Saud,

Indonesian Ambassador to Ethiopia speaking at the event held to commemorate the 67th Independence of the country held at the Ambassadorial residence.

The relationship between the two countries is based on three pillars that of government to government, business to business and people to people he said.

The Indonesian pharmaceutical company, Sanbe Farma Company, is aiming to invest in pharmaceuticals industry of Ethiopia. Such was disclosed by the company’s president, Dr. Jahja Santose.

Despite investing heavily in industrial park development, Ethiopia has yet to fully realize its economic potential from these facilities. A high-level consultation between the Industrial Parks Development Corporation (IPDC) and the Ethiopian Investment Commission (EIC) revealed that while over 1.6 billion USD has been poured into 13 industrial parks over the past nine years, their combined revenue has only reached USD 1.2 billion USD.

The industrial sector in Ethiopia is growing by an average of 10.8% in the last few years said the Ministry of Industry.

The sector has grown by 15% in just the last year accounting for 13.4% of the GDP noted Tadesse Haile, Minister of State for Industry.

The manufacturing industry is enhancing its competitive edge on the international market increasing foreign trade he said.

Ethiopia’s government concluded a Memorandum of Understanding (MoU) with Arvind Envisol, water management company, in the aim of building Zero Liquid Discharge (ZLD) solutions for the country’s industry parks.