Addis Ababa, August 22/2020(ENA) Industrial Parks that are currently under construction across the country will become fully operational in the coming Ethiopian New Year, according to the Industrial Parks Development Corporation (IPDC).
It was indicated that over the past consecutive years, Ethiopia has registered an average economic growth of 10.8 percent.
Consequently, the commencement of industrial parks has been contributing a crucial role to accelerating the national economy.
The expansion of the parks is vital in terms of increasing urbanization, creating jobs, and attracting Foreign Direct Investment (FDI).
It has also been playing immense role to expedite export trade and encourage import substitution.
Head of Marketing and Communication at the Industrial Parks Development Corporation, Deribe Debele told ENA that the government is building industrial parks in different parts of the country to boost the country’s economy.
Currently, there are 12 industrial parks in the country out of which seven are operational, he said, adding the remaining parks will become functional in the coming Ethiopian New Year.
He reiterated that the industrial park under construction in Semera city of Afar Regional State is among the parks that will be operational soon.
The completion of the parks will contribute to speed up economic growth and bring technology transfer in the country, according to him.
The construction of Dire Dawa, Kilinto, Bole Lemi two and ICT parks has already been completed, it was indicated.
According to information obtained from the corporation, construction of Humera, Assosa and Aisha parks are well underway.
Textiles, garments, pharmaceuticals and medical equipments are some of the products to be manufactured in the industry parks.