In May 2017, Serdur Group Chairman Sekan Mehmet Durdu urged his fellow Turkish investors to seize the potential business opportunities in Ethiopia, and reap mutual benefits from the East African country.
He has motivated Turkish investors who like most foreign firms are swarming their presence into the state.
As Ethiopia makes customary changes to achieve its Vision 2025 of becoming Africa’s manufacturing hub then, the industry has attracted potential foreign investors, understanding the opportunity the sector has. Turkish investors are set to establish an $856 million industrial park to boost the manufacturing operations in the country.
The facility will stand on a 500 hectares’ piece of land in southern Tigray zone Ade Gudem town, Hintalo woreda. Government support has facilitated the rising numbers of industrial parks in Ethiopia with business incentives also attracting more investments. Chines firms have invested a substantial amount in establishing manufacturing plants, increasing their print in Ethiopia’s economy.
Kelelie Hagaze, the administrator of Hintalo woreda, said the construction of the facility begins in March 2019, and the project will take two years to complete. He assured the investors his office is ready to provide the land for the facility and will support the business journey all the way.
Development of infrastructure to drive investments is crucial in most African economies to support both local and foreign businesses. It eases business operations, and improving efficiency. The facility will serve the interest of German car dealer Volkswagen who visited the country earlier to discuss business prospects, to strengthen trade and investment ties between the two nations.
Turkish investors are expanding their reach in East Africa having made a significant impact in Tanzania as well, a country they hailed for ease of doing business. Ethiopia is focused to better the manufacturing sector to create employment opportunities as well for its citizens.