-It is looking for buyers to sell machineries – It laid off over 700 workers after paying compensation Hop Lun, a Hong Kong-based company, has departed Bahir Dar Industry Park after incurring significant losses and losing market as a result of Ethiopia’s suspension from the Africa Growth Opportunity Act (AGOA). It is a major blow for officials, who were already under pressure as a result of the departure of factories from Hawassa Industrial Park for the same reason. Founded in 1992, Hop Lun, which has a presence in Bangladesh, China and Indonesia, joined the Ethiopian market three years ago. Its intention was to make Bahir Dar Industrial Park an exemplary and a leading industrial park like Hawassa Industrial Park. In 2019, the firm leased all eight industrial sheds that the government had erected in the Park after signing a Memorandum of Understanding (MoU) with the Ethiopian Investment Commission (EIC). Four of the eight sheds were converted into production facilities, and Hop immedia