THE AFRICA TIMES | SUDAN — Prime Minister Abiy Ahmed recently visited Toyo Solar within the Hawassa Special Economic Zone (SEZ). The Ministry of Industry released a statement Friday detailing the visit.
Abiy Tours Toyo Solar, Lauds Production
Inspection of Manufacturing Process
Abiy observed Toyo Solar’s manufacturing processes. He commended the company’s ability to produce advanced solar panels. Abiy expressed optimism for increased foreign trade. He believes Ethiopia can export renewable energy products.
Statements on Economic Impact
The Prime Minister believes Toyo Solar will serve domestic needs. He also emphasized the factory’s potential to expand Ethiopia’s exports. This expansion could affect global markets.
Investment and Job Creation
Financial Investment Details
Toyo Solar has invested $110 million in the Hawassa SEZ. The investment occurred across two phases. The Industrial Parks Development Corporation operates the SEZ.
Employment Figures
The project has created more than 1,000 jobs for Ethiopians. The Ministry of Industry emphasized the impact of this employment. This underlines the facility’s local economic significance.
Context of Ethiopia’s Industrial Recovery
Emphasis On Diversification
Abiy’s visit underscores governmental focus. This includes diversification and green technology investment. The visit occurs during Ethiopia’s economic recovery.
AGOA Suspension Impact
Several foreign investors withdrew, following Ethiopia’s suspension from AGOA in 2022. Allegations of human rights abuses in the Tigray conflict led to the suspension. Industrial park revenues significantly declined.
Signs of Rebound
Officials argue Toyo Solar’s investment is significant. It signals renewed investor confidence. This suggests a gradual rebound for Ethiopia’s industrial parks. The government frames it as rebuilding export capacity. They also see it as advancing renewable energy ambitions.
