Industrial Parks Supply 357 Mln USD Worth Products to Markets: Industrial Parks Corporation

Addis Ababa August 25/2022/ENA/ The industrial parks in Ethiopia have supplied products worth 357 million USD to local and external markets last Ethiopian fiscal year, according to Industrial Parks Development Corporation (IPDC).

Briefing journalists today, Industrial Parks Development Corporation CEO Sandokan Debebe  said investors in the 13 industrial parks have not only supplied products to markets but also created over 57,000 jobs during the stated period.  

Out of the total supply, goods worth 196 million USD were exported and the remaining 161 substituted import.   

Attracting investors, creating job opportunities for citizens and facilitating technology transfer is the main objective of industrial parks, the CEO pointed out.

In total, more than 81,000 employees are working in the industrial parks which generated 61 billion Birr from local and export markets since they started operation.

Some 13  of the 14 planned shades and over 6 hectares of developed land were given to investors.

The general performance of the corporation has improved in the past fiscal year when compared to the preceding year, except in job creation, Sandokan stated.

The corporation has 177 developed shades and 151 of them have been transferred to investors.

The CEO pointed out that insecurity, lack of inputs, and market linkage have challenged the performance of the industrial parks.