Debre Birhan town, one of Ethiopia’s emerging industrial hubs, has licensed investors with 12 billion birr during the past three years, according to the town administration.
Deputy Mayor of the town, Samuel Alen told Ethiopian News Agency that out of the more than 300 local and foreign companies licensed with 12 billion birr, 124 are engaged in manufacturing. Of the total projects, 17 have started production.
The consortium of the industries, which include beverage, paper, plastic, metal, leather goods, pharmaceutical and bottle manufactures as well as automotive assembly plant, have created over 2,000 permanent jobs, he added.
According to him, the investment flow to the town has been increasing significantly.
The Turkish leather goods manufacturer My Shoes and Leather Manufacturing, and Juniper Glass Industries Plc., are the biggest manufacturers in terms of capital, Samuel said, adding that the plants will commence production by mid-2017.
Samuel stated that the administration has been undertaking study to harmonize the growth of the town with the increasing number of factories.
He disclosed that the close to 26 projects with some 400 million birr capital are owned by the Ethiopian Diaspora.
Debre Birhan has become the preferred investment destination for local and international companies due to its proximity to the capital city and accessibility to international markets via the Port of Djibouti and Port of Tadjoura, Samuel pointed out.