On Wednesday 14 August, Ethiopian Prime Minister Abiy Ahmed, launched the construction of Chinese-contracted “Addis Tomorrow Special Economic Zone” at the heart of Addis Ababa, the country’s capital.
The inauguration took place one year after the Addis Ababa City Administration and China Communications Construction Company (CCCC), signed an agreement to develop a 35-hectare economic zone, with the project estimated to cost 700 million U.S. dollars.
In his speech at the event, Abiy highlighted the economic zone as a vital part of the government’s efforts to turn Addis Ababa into a world-class city. He described plans to create smart communities with a range of amenities, such as residential buildings, shopping malls, hotels, and recreational facilities.
He added, “”This is the start of our big dream of making Addis Ababa attractive as its name ‘New Flower’ refers to, and my gratitude goes to CCCC and the city administration for kicking start this project,” The Prime Minister highlighted that the Addis Tomorrow Special Economic Zone will be connected to other emerging economic areas in the capital through the ongoing Addis Ababa corridor project.
Abiy expressed his confidence in CCCC’s proven success in Ethiopia and expressed his anticipation that the company will finish the economic zone on time and to a high standard. Adanech Abiebie, mayor of Addis Ababa, stated that the development of the economic zone is a key initiative to enhance the city’s image, improve residents’ lives, generate substantial job opportunities, and offer high-quality housing.
She highlighted the decision to choose CCCC as the contractor citing the company’s proven success in completing major projects both in Ethiopia and internationally, on time and to high standards. Abiebie also emphasized that the ongoing economic partnership between Ethiopia and China is growing stronger.
Chen Zhong, Deputy General Manager of CCCC, promised to complete the project ahead of schedule, emphasizing the importance of fostering cooperation and sharing expertise. He assured that CCCC would offer its knowledge, resources, and solutions to benefit the Ethiopian government and its citizens. Chen also noted that the economic zone will contribute to a modern, people-focused, and healthier Addis Ababa.
This launch of a new economic zone signifies a milestone in Ethiopia’s economic development plans, reinforcing its growing economic relations with China and laying the groundwork for future growth and investment in the region.
ALSO READ: Ethiopia and Iran strengthen economic ties
