Industrial Parks Register Satisfactory Growth Despite Challenges: IPDC

Addis Ababa,  February 11/2022/ENA/ Industrial parks have registered encouraging growth over the past 6 months despite the various challenges encountered, according to Industrial Parks Development Corporation (IPDC).

Briefing journalists today, IPDC Marketing and Communication Head Henok Asrat said a total of 104.4 million USD was obtained from export, registering 25 percent growth when compared to same period of last year.

Over 80 million USD worth import substituting products have also been produced in the parks, it was learned.

Moreover, the industrial parks have created 33,371 jobs. Out of these jobs, Hawassa Industrial Park accounted for 42.5 percent, Bole Lemi and Adama Industrial Parks 26.3 and 16.5 percent respectively.

According to the head, 98 shades of the total 158 handed over to investors have started production.

The head stated that the construction of the Semera Industrial Park has reached close to 97 percent.

Henok further noted that foreign and domestic investors are showing interest in investing in Ethiopia, despite the COVID-19 pandemic challenges.

Power interruption, lack of cement supply, unresolved land disputes, pandemic and instability to some extent were among the challenges faced during the stated period.

Ethiopia has so far built 13 operational  industrial parks across the country.

In Ethiopia, industrial park are established with the vision to make Ethiopia a leading manufacturing hub in Africa by 2025, and the government places high focus on industrial park development and expansion.