Addis Ababa: Gelila Shoe Factory which would stimulate Ethiopian manufacturing industry and boost exports was inaugurated today. The factory, located at the Bole Lemi Industrial Park, is a significant development that marks a new chapter in Ethiopia's manufacturing potential. The factory, built at a cost of 2.1 billion Birr, spans on 7,000 square meters and has the capacity to produce a diverse range of high-quality shoes. Upon full operation, it is expected to create 4,000 jobs and produce 4,000 pairs of shoes daily. Alemayehu Seifu, Corporate Resource Management Deputy CEO at the Industrial Parks Development Corporation (IPDC), highlighted the factory's potential to set a new standard for the leather industry in Ethiopia. He encouraged both local and foreign investors to leverage the investment opportunities being provided at the industrial parks across the country. This latest development underscores Ethiopia's growing manufacturing capabilities and its commitment to diversifying its economy. As the country continues to attract foreign investment and promote industrialization, initiatives like the Gelila Shoe Factory are poised to drive economic growth and create sustainable jobs. The factory is expected to play its contributions in generating foreign currency by exporting its products and achieving the homegrown economic reform, he added. He called on both local and foreign investors to use the investment opportunities in industrial Parks located in different parts of the country. Berhe Asfa, the founder and CEO of Gelila Manufacturing PLC on his part expressed his gratitude for the support received from both government and private sector entities. He emphasized that the factory will cater to both domestic and international markets, with exports targeting European countries. Source: Ethiopian News Agency