Chinese Companies to Invest Over 2.6 Billion Birr in Ethiopia’s Bole Lemi Industrial Park

Addis ababa: Anda Vehicle Manufacturing Company and Aniy Furniture PLC, two Chinese enterprises specializing in electric vehicles and modern office furniture respectively, have committed to invest more than 2.6 billion Birr in Ethiopia's Bole Lemi Industrial Park.According to Ethiopian News Agency, the Industrial Parks Development Corporation of Ethiopia (IPDC) has facilitated this significant investment by signing a Memorandum of Understanding (MoU) with these companies. The agreement allocates two hectares of leased land within the industrial park for their operations. The MoU was signed by Fisseha Yitagesu, CEO of IPDC, and Wu Hangshu, Chief Executive Officer of both Anda Vehicle Manufacturing Company and Aniy Furniture PLC.This investment is expected to boost local and foreign market supplies once Anda Vehicle Manufacturing Company and Aniy Furniture PLC become operational. IPDC highlighted that Chinese companies play a major role in Ethiopia's industrial sector, particularly within the 13 industrial parks across the country, including the Dire-Dawa Free Trade Zone. This new venture is anticipated to further strengthen the economic ties between China and Ethiopia, contributing to industrial growth and job creation in the region.