Ethiopia Eyes Attracting Turkish, Dubai Business to Free Zone

Posted on : Wednesday , 12th October 2022

An official tour to Turkey and Dubai was made by a delegation that included representatives from several institutions and was led by the Deputy CEO of Ethiopia’s Industrial Park Development Corporation (IPDC), Addisu Mamo, and the Head of Transformation and CEO, Fitsum Ketema, according to the information from IPDC.

“The teams hosted investment promotion seminars in the UAE and Turkey’s Istanbul Free Trade Zone (DESBAS) to discuss various business potential in the Dire Dawa Free Trade Zone,” it said.

“The representatives informed manufacturing firms, investors, and senior government representatives from both nations about Ethiopia’s investment potential, industrial parks, and the extensive trade, logistics, and investment opportunities in the country’s recently established free trade zone.”

It is indicated that during the 1st event of the group’s trip to the UAE, Ambassador Aklilu Kebede of the Ethiopian Consulate in Dubai and the team spoke about investment potential in the Dire Dawa Free Trade Zone.

“The team briefed various businesses on alternative investment opportunities and incentives in industrial parks and Dire Dawa free trade zones through discussions and site visits with the offices of the Free Industrial Zone Authority of Dubai, Sharjah, Ajman, and Umm Al Quwain. These meetings were conducted through the Consulate General’s office.”

“The team, led by Adisu Mamo, the deputy CEO of IPDC, spoke with the director general of the Istanbul Free Industry and Trade Zone about measures to improve bilateral collaboration in the free trade and investment sectors,” the statement said.

“The group was informed by Istanbul Free Industrial and Trade Zone that their primary business sectors include solar energy, automotive supply, shipping supplies, machinery, and the chemical and textile industries. They also made a pledge to investigate Ethiopia’s potential in these fields. The statement also indicated that the Ethiopian delegation touring the 2 nations inspected the free trade zone, the existing operations of the businesses based there, and their services.

It is recalled that Ethiopia has introduced its 1st free trade zone in Dire Dawa town eastern part of the country by bench-marking experiences of places like Dubai.

In a related development, IPDC team held an exchange of exeriences with the Uganda Investment Agency and discussed issues that can be worked in collaboration. The working visit was held at the invitation of Raxio Ethiopia, a Ugandan company engaged in the construction of a data center in ICT park in Ethiopia.