AMG Holdings signs MoU with foreign partners
ADDIS ABABA – Oromia State is poised to offer robust support to investors in various sectors, announced the State Chief Administrator Shimelis Abdisa.
On Saturday, AMG Holdings PLC signed a Memorandum of Understanding (MoU) with seven international partners from China and India for the development of the new AMG Industrial Park in Gelan town.
The international partners will focus on diverse sectors, including metal, non-metal (construction materials), chemicals and PVC products, automotive, electrical and electronics, coffee, and commercial clusters. This partnership aligns with the national industrial development strategy and aims to boost import substitution, export promotion, technology and knowledge transfer, value addition, and productivity enhancement.
At the MoU signing, Oromia State Chief Administrator Shimelis Abdisa reiterated the state’s readiness to support investors in various manufacturing sectors. He praised AMG Holdings PLC for its significant role in local import substitution and assured continued state support to ensure the success of the newly signed MoU.
The regional leadership is committed to bolstering developmental activities and enhancing the effectiveness of private sector operations, he added.
Industry Minister Melaku Alebel emphasized the importance of a competitive manufacturing sector in the face of dynamic political, technological, social, and economic changes. He highlighted that self-sufficiency in production is crucial for safeguarding sovereignty.
The minister also noted that recent macroeconomic reforms and the Let Ethiopia Produce movement have significantly benefited the manufacturing sector, addressing challenges and achieving notable successes.
AMG Holdings PLC CEO Abdulhakim Mohammed Gelato reported that the company has created around 2,500 permanent and temporary jobs, expanded exports, operates over 114 petroleum stations across the country, and contributes to import substitution. He expressed optimism about the new partnership, stating, “This partnership will be a great success and lead to remarkable achievements.”
BY TSEGAYE TILAHUN
THE ETHIOPIAN HERALD TUESDAY 3 SEPTEMBER 2024
