A car assembly plant built by Mesfin Industrial Engineering Plc. (MIE) in Wukro town, Tigray Regional State has begun assembling a French cars brand, Peugeot automobiles.
The assembly plant was inaugurated yesterday.
Speaking at the event, Deputy Chief Administrator of Tigray Regional State, Ambassador Dr Adissalem Balema, said the government has created favorable conditions for local investors to enter into the manufacturing industry.
The construction of an industrial park launched in Mekelle with a budget allocated by the federal government is a good opportunity for local investors, said Ambassador Dr Adissalem, who is also head of the regional state’s trade, industry and urban development bureau.
Investment activities by foreign companies are producing conducive environment for local investors to become competitive through encouraging knowledge and technology transfer, he added.
Chief Executive Officer of the Endowment Fund for the Rehabilitation of Tigray (EFFORT), Azeb Mesfin said the manufacturing sector has a significant contribution to achieve Ethiopia’s target of becoming a middle income country by 2025.
EFFORT is contributing its share in promoting knowledge and technology transfer in the country by engaging in the manufacturing industry, she added.
Established with 25 million birr, the factory began assembling three types of Peugeot cars, according to Habte Hadush, General Manager of Mesfin Industrial Engineering Plc.
In addition to meeting local demands, the factory aspires to export automobiles to Djibouti and Somalia by assembling 1,200 Peugeot per year.
Ambassador of France to Ethiopia, Brigitte Collet, who attended the inaugural ceremony, said her country is keen to provide support for Ethiopia’s development activities.
Source: Fana Broadcasting
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