Addis Ababa, June 8, 2022(Walta) – Over 12 large-scale investment projects have become operational in Ethiopia’s well-built industrial parks (IPs) over the last three months of the current Ethiopian fiscal year, the Industrial Parks Development Corporation (IPDC) said.
IPDC CEO Sandokan Debebe told The Ethiopian Press Agency (EPA) that attracting new investment was a challenging matter over the last two and three years due to the impact of the global rife COVID-19 pandemic and instability in the country.
However, following a relative diminishing of the pandemic and restoring of national peace industrial parks in Ethiopia have shown progress and new foreign and domestic investments were attracted over the last three months.
The secured investments are taking part in agriculture, medicine, and medical facilities as well as product and service sectors, he said stating the undertaking investment is expected to contribute a paramount role in raising job opportunities besides playing their share in boosting product and service improvement in the country.
“Currently, we are in better conditions than ever before and the industrial parks constructed over the last three years commenced providing service. They have better infrastructure and a working system to facilitate investment as well as service provision.”
“A range of activities have been undertaken to attract more investment and IPDC has planned to work collaboratively with relevant nations more important for political and economic cooperation. Numerous investments have been flowing from Asia, particularly China, India as well as the Middle East, and investments are flowing from America and Europe, too.”
“For example, Soufflet Malt Ethiopia S.C is one of the new investments started operating at Bole Lemi Industrial Park and has created linkage with over 50 thousand farmers,” he said.
Other new investments coming to Ethiopia are from France, Australia and other countries. Over 152 million USD is managed from companies’ product exports from companies in the Industrial Parks.
From 135 rented shades for investors, some 98 shades commenced manufacturing products within nine months of this budget year and 44 thousand job opportunities were created, it was learned.