A new domestic manufacturing company, Bati Trading, has inaugurated its operations at the Kombolcha Industrial Park, marking a significant milestone in the government's efforts to promote local investment and industrialization.
In a ceremony attended by high-ranking officials, including Fantu Tesfaye, Speaker of the Amhara Regional Council, Aklilu Tadese, CEO of the Industrial Parks Development Corporation, and Mohammed Amin, Mayor of Kombolcha town, the company officially commenced production by installing and testing its manufacturing machinery.
Addressing the gathering, Aklilu Tadese hailed Bati Trading's entry as a testament to the corporation's commitment to facilitating investment by capable domestic companies. He urged other local businesses and investors to take advantage of the streamlined bureaucratic processes and various incentives offered by the corporation to establish their presence in industrial parks.
With an investment of over 350 million Birr (approximately $7 million), Bati Trading has set up a facility to produce yarn using cotton as the primary raw material. The company's production is expected to contribute to import substitution and foreign currency savings.
Bati Trading has created employment opportunities for around 300 Ethiopian citizens, further underscoring the industrial park's role in promoting job creation and economic development.
The inauguration of Bati Trading at the Kombolcha Industrial Park is part of the government's broader strategy to attract domestic investment, enhance manufacturing capabilities, and foster inclusive economic growth through industrialization.