Hong Kong firm Hop Lun Company (HLH) on Wednesday signed a Memorandum of Understanding (MoU) with Ethiopian officials to manage Bahir Dar Industrial Park (BIP) located in the northern part of Ethiopia.
Ethiopia (Photo: CGTN)
The MoU agreement was signed between representatives of Hop Lun Company and the Ethiopian Investment Commission in Bahir Dar city, located 552 km north of Ethiopia's capital Addis Ababa.
BIP, which is in the final stage of commissioning, was constructed by China Civil Engineering Construction Corporation (CCECC), and when at full capacity, is expected to create employment opportunities for about 10,000 Ethiopians.
Bahir Dar Industrial Park is one of about a dozen textile and garment sector dedicated industrial parks Ethiopia is constructing to meet its manufacturing ambitions.
With Ethiopia attracting large-scale investment in the export-oriented manufacturing sector, especially from Chinese firms, the country sees improving the efficiency and speed of the logistics sector as key to meeting national manufacturing revenue goals.
Ethiopia plans to have 30 industrial parks by 2025, as part of its efforts to make the country a light manufacturing hub and lower-middle-income economy in the same period.