The number of Italian companies operating in Ethiopia is expected to increase in the coming years, according to Riccardo Zucconi, the head of the Italian Trade Agency (ITA) in Ethiopia. Zucconi attributes this trend to Ethiopia's strong economic growth, strategic location in the Horn of Africa, and the expanding middle class market.
Enel, an Italian multinational corporation, disclosed it is intending to construct a 100 megawatt solar park in Ethiopia. The park is said to be constructed at an outlay of 120 million USD and the project is going to be in collaboration with the Ethiopian infrastructure agency, Orchid Business Group.
An Italian garment manufacturer, Calzedonia, is set to make investments in Ethiopia and is expected to open its first branch by next year in Tigray State, Mekele City.
Bracco S.P.A. Healthcare International Group, an Italy-based company, and Zuvius Lifesciences Pvt. Ltd, an Indian pharmaceutical giant have expressed their interest to invest in Ethiopia.
Ethiopia and Italia concluded a total of 16.1 Million Euros financial agreements in the form of loan and grant.
