DDFTZ booming: Investors drawn to Ethiopia’s growth

DIRE DAWA – Ethiopia’s growth prospects, huge economic potential, and many business opportunities are attractive and lucrative, investors operating in the Dire Dawa Free Trade Zone (DDFTZ) commented.

Mohan Group of Companies CEO Harsh Kothari told The Ethiopian Herald that the diverse investment opportunities facilitated by free trade zones makes Ethiopia a safer bet for investors than other countries in the region with similar facilities.

Ethiopia’s geographical location, geopolitical strategy, hospitality, incentives, and ownership of the region’s huge population and economic wealth put the country at the forefront of exporting and importing trade. “This, in turn, gives us an excellent reason to invest in Free Trade Zones,” he said.

He mentioned that his company has been manufacturing and marketing plastic products for several years. Nevertheless, investing in distributing plastics raw materials within the DDFTZ, according to Kothari, is favorable to serve as a supply point not only for Ethiopian manufacturers, but also for East African countries.

“There are neighboring countries that import different plastic raw materials from other countries, but the entry into the Zone will give an opportunity to easily buy these raw materials from Ethiopia’s Free Trade Zone, which will enable the nation to serve as a logistics and trade hub,” he said.

Yudao International Supply Management, Ethiopia Representative, Meseret Ababe expressed that the company imports and distributes electric vehicles thereby operating within the free trade zone helps to deliver efficient and dependable services while avoiding fees charged at Djibouti and other nations’ ports, as well as extra charges and harassment.

The daily port charges in Djibouti exceeds 18 USD while the Dire Dawa Free Trade Zone only costs 8 USD per day, cutting costs by half, she explained.

Additionally, the company, by exporting from the zone, will be able to reach out not only the Ethiopian market, but also other East African countries, she said.

BY EPHREM ANDARGACHEW

THE ETHIOPIAN HERALD THURSDAY 30 JANUARY 2025

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