Chinese-funded companies have invested nearly 6 billion yuan in Ethiopia's Industrial Park!

According to Ethiopian media reports, the Ethiopian Investment Commission (EIC) and the Chinese company Chongqing Kunhuang International Industry Group (CKIIG) recently signed a subcontract developer agreement to subcontract a piece of land in the Jada Special Economic Zone (the Gada Special Economic Zone).

It is reported that the Chinese company CKIIG will develop and implement its project on 20 hectares of land with a total investment of US $50 million (close to 6 billion Bill). According to the investment committee EIC, the proposal has been designated by the board of directors of the investment committee, and the project is expected to create huge opportunities for local communities, import substitution, increasing foreign exchange earnings from exports and strengthening local economic ties.

It is understood that the Jada Special Economic Zone (the Gada Special Economic Zone) is the first special economic zone in Ethiopia, located in Oromi, Ethiopia, about 70 kilometers southeast of the capital Addis Ababa, and close to the junction of the railway and highway. The core area of the Kada Special Economic Zone is the Le Mei Free Trade Zone, which is jointly developed by China Earth Group, a specially built subsidiary of China, and the government of Oromia State of Ethiopia. The two sides will introduce international advanced technology and management experience, combined with local resources, to build the Le Mei Free Trade Zone into a comprehensive free trade zone integrating production, trade, research and development, focusing on coffee processing, bamboo and wood processing, machinery and equipment manufacturing and other areas.

The Ethiopian government believes that this cooperative investment will bring funds and technology to Ethiopia, which will help the country improve the technical level and production efficiency of coffee processing, improve coffee quality and increase the competitiveness of its products in the international market. At the same time, it can create a large number of job opportunities and improve the income level of local residents.

Although, this investment cooperation will strengthen the construction, industrial development and export trade of Ethiopia, especially the processing and export business of the country's advantageous agriculture, such as coffee. However, at present, the coffee industry in this country is also facing many problems.

At present, the main problem in the country is security, and armed conflicts and large-scale kidnappings have been reported in many parts of Ethiopia recently. Recently, the Ethiopian government has added 40,000 soldiers to launch a new round of military operations against the Farno militants (Fano) in Amhara State, resulting in the blockade of roads in Amhara State and the outbreak of very serious conflicts in many areas of the country, which has had a serious impact on the economy and security of many regions of the country.

In addition, in mid-September, in and around the town of Assela, not far from the Jada Special Economic Zone, it was reported that a total of 44 people taking public transport buses and citizens in the town had been kidnapped by Shene militants of the Oromo Liberation Army, after the kidnapping, the militants demanded a ransom of 500000 to 1 million Bill from the hostage's family by telephone. According to local residents, the "Shene" armed group of the Oromo Liberation Army has been active in the area, and it can be said that the security factor in the area is poor due to the lack of government security forces and frequent killings and kidnappings.

In addition, there has been a recent earthquake in Ethiopia. According to Ethiopian media reports, an earthquake measuring 4.9 on the Richter scale occurred in the East Halergai (Metehara) region of Oromia, about 200km from Addis Ababa, the capital of Ethiopia. Although no casualties have been reported, some roads and land have been damaged. The region is also the coffee producing area of Harald, Ethiopia, and this is the main road from Ethiopia to Djibouti, which may affect the export of agricultural products such as coffee. According to the head of the Department of Science at Addis Ababa Geophysics and Space University, residents living in and along the Rift Valley should be vigilant and similar earthquakes may occur again.

At present, the Ethiopian coffee industry is also facing exchange rate problems. Due to the influence of the new finance, Essex Bill has depreciated sharply and domestic prices have risen seriously, resulting in a 2% increase in the minimum price of coffee this week. In addition, national security problems continue to disrupt international freight and logistics, exacerbating rising costs. Therefore, many people in the coffee industry expressed the hope that the government can solve the security problem as soon as possible. in addition, this Chinese-funded cooperative investment can effectively alleviate the current serious cost problem.

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