Ethiopia Earns 103 Million USD Export Revenue from Industrial Parks

Addis Ababa April 30/2019 The Ethiopian Investment Commission (EIC) disclosed that 103 million USD export has been generated from industrial parks in the past nine months.

The performance exceeded that of same period last fiscal year by 40 percent, it was learned.

Investment Commissioner Abebe Abebayehu told ENA that 70 percent of the planned earning  from industrial parks during the stated period has been accomplished.

He added that footwear and other leather products as well as textiles and apparel have been exported to European countries, USA, Asia and other export destinations.

Various industrial parks across the country have managed to generate employment opportunities for more than 70,000 persons.

According to him, the conflicts in different parts of the country over the years had hardily affected the performance of the industrial parks.

In terms of Foreign Direct Investment, the country has managed to attract 2.5 billion USD in FDI over the last 9 months.

Investment Commissioner Abebe said special security precautions are put in place to ascertain the safety and security in and around the industrial parks.

He added that although a number of foreign investors have already signed agreements with the government, shortage power supply and other infrastructural facilities have hampered implementation.

To date, Bole Lemi, Mekele, Adama have partially started operation and Hawassa Industrial Park is already operational. 

Ethiopia has in recent years focused on building industrial parks as a viable strategy to increase foreign exchange earnings; and the country is striving to complete a total of 30 industrial parks over the coming years.