Ethiopia, Volkswagen Group sign MoU
The MoU was signed in the presence of German President FrankWalter Steinmeier and Ethiopia’s Minister of Finance, Ahmed Shide.
The Ethiopian Investment Commission (EIC) and Volkswagen Group signed MoU that would enable the Group to set up sustainable, vertically integrated and export-oriented automotive industry in Ethiopia.
On the occasion, Abebe Abebayehu ,Commissioner at Ethiopian Investment Commission said that Ethiopia has become the third country in Sub-Saharan Africa to sign MoU with Volkswagen following Ghana and Nigeria who both signed in August 2018.
Following the agreement, companies that are engaged in producing parts of the vehicle will operate in Ethiopia. The move will create jobs for local people and knowledge and skill transfer.
CEO of Volkswagen and Ethiopia, President Frank-Walter visiting Federal Technical and Vocational Education and Training Institute Head of the Volkswagen Sub-Saharan Africa Region, Thomas Schaefer expresses gratitude for the support and visionary leadership of the Government of Ethiopia, and pointed out Ethiopia as an ideal country to advance Volkswagen’s SubSaharan Africa investment strategy.
The MoU paves way for Volkswagen and the Ethiopian government to jointly deliver on the vision of developing sustainable and vertically integrated automotive industry cluster in Ethiopia that has local value addition skills development and export as core components.
Volkswagen will focus on four key pillars: the establishment of a vehicle assembly facility, localization of automotive components, introduction of mobility concepts as well as the opening of a training center, he said. The MoU was signed in the presence of German President FrankWalter Steinmeier and Ethiopia’s Minister of Finance, Ahmed Shide.