China's CCECC has signed an MoU with Gada Special Economic Zone to develop 1000ha of land through a joint venture
BusinessNews

China’s CCECC to Jointly Develop Gada Special Economic Zone

ADDIS ABABA – The China Civil Engineering Construction Corporation (CCECC) has agreed to jointly develop 1000 hectares of land at the Gada Special Economic Zone or GSEZ in Ethiopia.

Officials of the GSEZ and CCECC signed the Memorandum of Understanding to develop the designated land through a Joint Venture.

The signing on Tuesday was witnessed by the PM Office’s senior economic advisor Girma Birru, President of the Oromia region Shimelis Abdisa, and Chinese Ambassador to Ethiopia Zhao Zhiyuan.

“I hope it will enjoy a good and bright future,” Ambassador Zhao said.

The five-year development project encompasses a logistics hub, diverse manufacturing facilities primed for exports, and industrial parks.

“This ambitious venture… carries the dual objectives of bolstering the economic landscape and fortifying diplomatic relations between Ethiopia and China,” the GSEZ said.

The Gada Special Economic Zone has also readied over 2900 hectares of land for similar initiatives.

The GSEZ was set up as a public enterprise by the Oromia regional state in 2020 with a mandate to develop and administer industrial parks in the region.

The establishment proclamation designates 24000 hectares of land for the special economic zone. It is located 65km east of Addis Ababa and in close proximity to other urban centers including Adama and Modjo

Its officials aspire to make the special economic zone a pioneer of free trade, export processing, recreational and smart industrial city by 2062.