Abebe Abebayehu, Ethiopian Investment Commission Commissioner, and Thomas Schäfer, Managing Director of Volkswagen for Sub-Sahara Africa, singed the agreement. Visiting German President Frank-Walter Steinmeier was present during the signing in ceremony.
According to a report by Ethiopian News Agency (ENA), the company is interested in Ethiopia as an ideal place for Volkswagen expansion in Sub Sahara Africa.
Ethiopian government expressed commitment to provide a favourable investment environment in the country.
It is to be recalled that executives of the company visited Ethiopia in October 2018 and met with Prime Minister Abiy Ahmed.