Five top companies have signed an agreement to join Bulbula IAIP!
A ceremony was held to sign an agreement with five top companies, including Kerchanshe Trading PLC, Bekas Chemicals, Biyafen Trading PLC, Unique Trading PLC, and Backyard Agro Industry PLC with Oromia IPDC in Bulbula IAIP. These companies will work on 11 projects focused on manufacturing various products such as pasta, macaroni, infant cereal, potato chips, refined edible oil, dairy products, animal feed, vegetable oil, fruit juice, spices, coffee, and tomato paste and ketchup. The registered projects are expected to create job opportunities for over 4,440 people in the area, with initial investment capital of over 9 billion ETB. The businesses required 21 hectares of land, which is about 30% of the area designated for investors.
The Investment Bureau, led by Mr. Edris, has promised to provide a supportive environment for investors who have registered today. He said he will prioritize those who have joined the IAIP by giving them access to finance and arranging machine leases. Additionally, they have pledged to address any issues related to bureaucracy to ensure a smooth process for investors.
The Bulbula Integrated Agro-Industrial Park (IAIP) is proving to be a great opportunity for Ethiopian investors, with several companies already announcing their involvement in the project. Kerchanshe Trading, one of the major processors in the country, has joined the IAIP with seven projects. The owner, Mr. Israel, has expressed his appreciation for the invitation to work on the IAIP and encourages other Ethiopian investors to take advantage of this opportunity.
Bekele Tsegaye, Managing Director of Bekas Trading, is another company that has announced its involvement in the Bulbula IAIP. They plan to expand their operations into the vegetable oil industry, with potential uses in cosmetics and animal feed. Backyard Agro industry PLC is also planning to process tomato paste and ketchup, which could potentially replace 70% of imported products.
Biyafen Trading PLC, another investor in the Bulbula IAIP, is processing spice as an alternative to the forex shortage. All investors stress the importance of promised investment aftercare services from the Industrial Parks Development Corporation (IPDC), which will help them to maintain their operations and continue to grow. Overall, the Bulbula IAIP is shaping up to be a hub of innovation and growth for Ethiopian businesses.
Finally, The CEO of IPDC, Ms. Senait, expressed gratitude towards the Oromia region Investment Bureau for their efforts in persuading agro-processing investors to register in the Bulbula IAIP.
UNIDO has been supporting the Government of Ethiopia in the development of Integrated Agro-Industrial Parks (IAIPs), in close coordination with other development partners that have included the Food and Agricultural Organization (FAO), African Development Bank (AfDB), European Union (EU), Agenzia italiana per la cooperazione allo sviluppo (AICS) and the German Federal Ministry of Economic Cooperation and Development (BMZ). Current implementing partners of UNIDO also include the International Fund for Agricultural Development (IFAD), Ethiopia’s Agricultural Transformation Institute (ATI), and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ).
