Correction of Recent Misinformation on the Eastern Industry Park Investors


Correction of Recent Misinformation on the Eastern Industry Park Investors The Eastern Industry Park (EIP) being the pioneer industrial park in Ethiopia, it has beenshowcasing the positive impacts of Chinese industrial development and has become a placefor manufacturing excellence and a platform for developing and transferring skills since2008. EIP completed construction activities on Phase I land of 233 hectares and availedserviced industrial land, pre-built sheds equipped with all-encompassing utilities &infrastructural facilities, and other One Stop Shop vital services and managed to attract 132FDI companies from China, UK Netherland, and India. The park is mainly engaged in themanufacturing sector targeting at both international and domestic markets and has created25,oo0 jobs for the local community. Recently, we came to learn a report in the media that “51 companies that are investing in EIPhave left the park due to alleged inappropriate business conducts”. We would like to takethis chance to unveil the truth that the information circulated is untrue and does notrepresent the reality of EIP as well as characterization of our partner. We reiterate there are132 investors that are actively operating in our park and none of them have the intention ofterminating their investment activities within the park or evacuating their entities out oEthiopia. Being the park management is the first contact to receive company liquiditynformation, we underscore that we have not received any liquidation or terminationapplication from any of our investors. To the country. realizing our first phase successfulindustrial development project, we have made considerable progress to welcome newinvestors on our ambitious second phase expansion investment project. The strong role andcommitment of the Ethiopian Investment Commission towards achieving our developmentproject is very much commendable. The Ethiopian Investment Commission as a regulatory body that has been supporting thedeveloper and the investors in our compound in terms of industrial park developmentinvestment promotion, facilitation of new FDI registration & licensing, issuing work permitsin provision of the land acquisition and coordination with other government organs at allaspects. We. therefore. kindly request medias to correct this misinformation and inappropriatecharacterizations of our company and that of our partners. Our office is open for anyinformation that you may need and do not hesitate to contact us.