Addis Ababa, August 9, 2022(Walta) – Industrial Parks Development Corporation (IPDC) said that it has finalized preparations to establish and launch the Dire-Dawa Free Trade Zone at the Industrial Park there.
Briefing the media, lPDC Strategy Advisor Kiyya Tekalign said that necessary preparations had been finalized to establish a free trade zone in Dire Dawa Industrial Park.
It has also completed legal frameworks, working systems, and infrastructure preparations to help it start the service. The free trade zone is expected to benefit companies with fragile imports in due course of running manufacturing processes that would result in a large amount of scrap. The industrial park of the Companies would avoid the bureaucratic red tape in providing service, he said.
The free trade zone would focus on supporting manufacturing, importing, and exporting steps and promoting logistics sectors. The zone has thus aimed at boosting export revenue, creating jobs, increasing import substitution, transferring knowledge, and others, he stated.
He said: “The free trade zone would play a crucial role in reducing logistics expenditure specifically via minimizing inflation pressure. It offers a special opportunity to reduce customs duties on products.”
As to him, custom laws would be applied in a way that helps boost economic development, and investors, manufacturers, and others will be the beneficiaries of new incentive packages and others, according to EPA.