Volkswagen to set up new automotive assembly in Ethiopia

Thomas Schaefer, Head of Volkswagen Sub-Saharan Africa shaking hands with Abebe Abebayehu, Commissioner of the Ethiopian Investment Commission after the signing of the Memorandum of Understanding (MoU) in Addis Ababa. Looking on are the President of the Federal Republic of Germany, Frank-Walter Steinmeier and Ethiopian Minister of Finance, Ahmed Shide.

28 Janury 2018: A Memorandum of Understanding (MoU) was signed by Thomas Schaefer, Head of the Volkswagen Sub-Saharan Africa Region, and the Commissioner of the Ethiopian Investment Commission (EIC), Abebe Abebayehu, today. The MoU is based on: vehicle assembly, localization of automotive components, mobility concepts, opening of a training center in Ethiopia.

In signing the MOU, Volkswagen is taking the fast development of the country into account. Over the last ten years, the GDP growth rate in Ethiopia was above 8 percent – one of the highest worldwide. Moreover, Ethiopia is a priority and focus country for Germany under the G20-“Compact with Africa” initiative.

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