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EIC concludes Investment Deals worth $164 Billion

The Ethiopian Investment Commission (EIC) and several foreign companies have signed investment agreements with a combined value of 1.64 Billion US dollars.

The deals were signed on the final day of Invest Ethiopia 2023 Forum, which has been held in Addis Ababa for the past three days.

The biggest commitment of all was made by Sonoma Cement Co. Ltd.

The Chinese firm will engage in the production of cement, gypsum and other construction materials with a capital of $500 million.

Huajian Industrial Park also signed investment deals with 21 companies that will base their projects inside the park.

“The companies will engage in producing Glass, metal, footwear, aluminum, healthcare, car assembling, packaging, and among many others,” EIC said.

The total capital of the companies is estimated to be $96.2 million.

Other companies that have concluded investment deals today include Unilever (Ethiopia), Africa Improved Foods, Jiangxi industr, and Shandong Timber.

Investment commissioner Lelise Neme has congratulated all companies that committed to invest in Ethiopia.

“I congratulate esteemed investors, partners and all involved for the actual committed Investment amount of 1.6 billion $ we signed today,” commissioner Lelise said.

The government will provide every supports for the companies in every process to help them become successful, she added.

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