International Agro-Industry Investment Forum starts today

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State Ministers Ahmed Shide and Dr. Mebrhatu Meles giving the joint press conference.
State Ministers Ahmed Shide and Dr. Mebrhatu Meles giving the joint press conference.

In a joint press conference organized with the Ministry of Finance and Economic Cooperation, State Minister of Industry Dr. Mebrhatu Meles said that the government is determined to mobilize resources of all types to the expansion of agro-industrial parks during the second Growth and Transformation Plan (GTP II) to boost agro-industry investments in the country.

The Ministry of Industry said Ethiopia is keen to enhance the agro-industry sector to advance the transformation of manufacturing sector. The 1st International Agro-Industry Investment Forum is to be held from October 5-7, 2016.

Twenty-two corridors have been identified to launch an integrated agro-industry investment parks throughout the country, State Minister of Industry Dr. Mebrhatu Meles said. Additional 13 corridors have also been selected for the Ethiopian Agricultural Transformation Agency.

An additional 17 corridors of potential agro-processing industry such as coffee, sugarcane, sesame, cotton have been identified. Some 13 of these are integrated to process more than one commercially surplus commodity and the remaining are special corridors to animal husbandry.

To avoid shortage of raw material in the textile industries, highly mechanized cotton production activities have been launched in Shinle, Omo and Amibara localities of Somali, SNNP and Amhara States respectively.

According to Dr. Mebrhatu, additionally four pilot corridors in Baeker, Bure, Zeway and Sidama areas in Tigray, Amhara, Oromia and SNNP states have been selected for the integrated agro-indusrial parks development to transform the agriculture-led economy to industry one.

He added that the international forum will help align potential resources areas and agro-processing industries for effective sub-sector development.

He said the Forum will also come up with solutions for constraints in transforming the agricultural sector and effective utilization of raw materials.

Finance and Economic Cooperation State Minister Ahmed Shide also said the Forum is an opportunity for the government to showcase its commitment in realizing vision 2025, and the potential of the economy to became Africa’s leading light manufacturing hub by the reported period.

The Forum would bring together over 1,000 participant investors, industrialists, leaders of international business and investment, international development agencies and financial companies and senior government officials from FDI source countries.

Ahmed said: “ The Forum will have sessions showcasing the country’s conducive investment climate, opportunities for financing investment in the agro-industries and three separate sessions dedicated to leather, textile and agro-processing industry respectively.”

Source: The Ethiopian Herald


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