Corporation Plans to Create 45,000 Jobs, Secure 400 Mln USD in Current Budget Year

Addis Ababa, September 1/2020(ENA)The Industrial Parks Development Corporation has planned to create 45,000 permanent jobs and generate 400 million USD from export trade during the current Ethiopian budget year.

Corporate Marketing and Communication Head, Deribe Debele told ENA that currently seven of the 12 industrial parks are operational.

The remaining five industrial parks will become fully operational this year, he added.

Accordingly, the corporation has planned to create 45,000 permanent jobs and secure 400 million USD during the current Ethiopian Fiscal Year from the industrial parks across the nation, Deribe said.

In order to attain the plan, preparations are underway that aim at minimizing the COVID-19 challenges, improve infrastructure developments and enhance electric power supply in the parks.  

According to him, in addition to completing and making operational the five parks, 17 vacant shades in the old parks will be handed over to investors during the year in a bid to achieve the stated annual plan.

The corporation will also construct 31,000 resident houses for employees around the industrial parks to help encourage employees and facilitate proximity to the parks, he added.

Last budget year, however, the industrial parks have attracted only 28 investors and created 11, 880 jobs, against the 59 and 26,830 plan respectively, the head stated.

Deribe further indicated that the industrial parks across the country have exported 165 million USD worth of products during the last Ethiopian Fiscal Year against the planned 226 million USD. 

The low performances in both job creation and export revenue were mainly due to the COVID-19 challenges and frequent power outages among other things, he pointed out.

Industrial Parks in Mekelle, Debrebrhan, Kombolcha, Adama, Hawasa, Jimma and Bole Lemi 1 are in operation while Bahir Dar, Dire Dawa, Ethio-ICT Park, Kilinto and Bole Lemi 2 are expected to be functional this year and a new industrial park will also be constructed in Semera, Afar region.

The industrial parks in Ethiopia produce textile, garment, pharmaceuticals, and medical equipment, among others.

So far, the parks have exported industrial products worth over 443 million USD to different countries across the world, it was learned.

Ethiopian News Agency