Thursday May 16, 2024
Jigjiga, Ethiopia (HOL) – A new car assembly plant, representing a 250 million Birr investment, was inaugurated today in the Somali region, signalling a significant step forward in Ethiopia’s industrial development.
The factory, which has a production capacity of up to 10 cars daily, was opened amid much fanfare and optimism. Somali Regional President Mustafe Mohamed, who presided over the ceremony, praised the collaborative efforts that made the project possible. "This factory not only signifies our advance in industrial capabilities but also underscores the evolving role of the private sector in our economic framework," President Mohamed said.
During his speech, the president emphasized the dual benefits of the investment. "Projects like this reduce our foreign currency expenditure and provide much-needed job opportunities for our citizens," he elaborated. Such initiatives align with the government's strategy to foster economic growth through infrastructural development and support for private enterprise.
The owner of the factory, Abdinur Hussain, highlighted the immediate impact of the new facility: the creation of over 100 jobs. "Our vision extends beyond assembly; we aim to enhance our production capacity and further increase employment through upcoming expansions," Hussain shared with the attendees.
Over the past six years, Jigjiga has become a hub for 300 industries ranging from small to large scale, significantly transforming the job market and local economy. This new factory adds to a growing list of initiatives that harness the region’s natural resources and strategic location to attract more investment.
The investment in the car assembly plant is part of a broader trend in the Somali region, where the government has been actively promoting industrialization as a means to economic self-sufficiency. By tapping into the area’s potential, the state hopes to catalyze further private-sector investment and economic diversification.
Looking forward, the regional government reiterates its commitment to supporting such endeavours. "We will continue to back the private sector as a key driver of our economic prosperity," President Mohamed asserted.
As the factory begins its operations, the local community and potential investors are watching closely, hopeful that this marks the beginning of a new era for Jigjiga and the Somali region at large.