Belayab Motors Begins Assembling KIA Vehicles in Ethiopia

Belayab Motors has reached on a distributorship agreement with Seoul-based KIA Motors Corporation to assemble Rio, Picanto and other vehicles in Ethiopia.

By Yohanes Jemaneh (The Ethiopian Herald) |

Ethiopia’s manufacturing business has been gaining momentum in advancing the industry-led economy.

Speaking at the inauguration of the assembled cars by Belayab Motors, a private company, Ethiopia’s Industry State Minister Alemu Sime, PhD said the country has planned to increase the current 5.4 percent GDP share of the manufacturing sector to eight percent by 2020.

He noted that the government would extend unreserved support to local manufactures and foreign investors in a bid to bring notable industrial transformation in the shortest time possible.

According to him, Belayab Motors is playing pivotal role in the ongoing national efforts of transforming the agriculture-led economy to industry one through importing machineries and assembling them at home. “By doing so, it has created various jobs and boosted knowledge and technology transfer.”

Belayab Motors CEO Fekadu Girma for his part noted that as part of its distributorship agreement with KIA Motors Corporation his company would assemble Rio, Picanto and other vehicles at home.

Apart from satisfying customers’ interest, the company would help the country to save foreign currency, create jobs and hasten the adoption of knowledge and technology transfer, he said and adding, his company has so far created 1,025 jobs.

Belayab Motors has a capability of assembling 18 cars per day. The company is working in assembling and supplying sedan cars such as FAW Vela, Picanto and Rio, according to the CEO.

At the event, KIA Motors Corporation Middle East and Africa Manager Cheoran Lee noted that Ethiopia’s investment policy helped the country to attract foreign investors in manufacturing sector.

As to Lee, Ethiopia and South Korea have unforgettable historic partnership, therefore, working in partnership with Belayab Motors would strengthen the existing developmental cooperation between the two countries apart from advancing the manufacturing sector.

He said that the two companies would serve the two countries relations through supplying quality brand KIA vehicles.

KIA Motors employs 40, 000 full-time workers worldwide and has annual revenues 14.6 billion USD.

Source: The Ethiopian Herald
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