The Industrial Parks Development Corporation (IPDC) inked memorandums of understanding with 8 manufacturing companies and four finance institutions which were ready to enter the Dire Dawa Free Trade Zone.
Industrial Parks Development Corporation (IPDC) has announced the transfer of over 90% of its 177 manufacturing sheds across 13 industrial parks to investors, contributing to job creation and economic growth.
Israel Chemicals Group (ICG) has bought a 19.9 percent stake in Allana Potash, the Canadian company preparing to mine potash minerals in the Dallol depression of the Afar Regional Sate, in Ethiopia, according to The Reporter.
Bank Hapoalim, an Israeli bank, concluded over USD 200 million deal to finance an irrigation project in Ethiopia which is being carried out by an Israeli firm called Netfim. The project is owned by a government owned sugar company.
According to Reuters, the project covers 7,000 hectares of sugar cane. Netafim has also explained it as the firm’s largest deal ever.
A delegation led by Adisu Mamo, the Deputy CEO of Industrial Parks Development Corporation (IPDC), visited Istanbul Free Industry and Trade Zone and discussed with its Director General about strengthening the relationship between Ethiopia and Turkey in trade and investment.
During the visit, representatives of the Istanbul Free Industry and Trade Zone revealed that they were interested to work with Dire Dawa Free Trade Zone in sectors such as solar energy, automotive supply, shipping supplies, machinery, and chemical and textile investment.
