French Company to Invest in Ethiopian Agro-Processing.

Addis Ababa: Ecologistique Bourgogne, a French agro-processing company, has announced its plan to establish a joint venture with Ethiopian diaspora partners to invest in the country's agro-processing sector. In a press briefing today, Christian Deleamotte, CEO of Ecologistique Bourgogne, praised the investment opportunities provided by the Ethiopian government, highlighting the country's potential for agricultural development.According to Ethiopian News Agency, the company has announced plans to establish a joint venture with Ethiopian diaspora partners to invest in the country's agro-processing sector to produce food items. "The investment environment in Ethiopia is beyond our expectations," Deleamotte said, "Even the French government doesn't offer investors such opportunities, like the industrial parks being built in Ethiopia."The CEO emphasized that Ethiopians employed by the company will receive training in France on agro-processing techniques, facilitating knowledge transfer. The company, specializi ng in packaging dry food products to order for major national brands and distributors, is committed to producing food products at global standard and it will primarily supply the local market, including Ethiopian Airlines.Rahel Sahelu, an Ethiopian diaspora living in France for 25 years and a joint venture partner in the company, observed that Ethiopian raw products are often exported at low prices. Additionally, by directly supplying products to Ethiopian companies like the Ethiopian Airlines, the company will help save foreign currency that would otherwise be spent on food imports.The company is expected to commence operations within the next six months to one year at the Kilinto Industrial Park.