Ethiopia to Construct 4 Industrial Parks

Ethiopia will start the construction of 4 industrial parks late this month. The announcement was made by Board Chairman of Ethiopian Industrial Parks Development Corporation, Arkebe Equbay (Dr.).

The industrial parks are going to be built in Adama, Mekele, Kombolcha and Dire Dawa. The construction is projected to be undertaken at an outlay of 1 billion USD.

Commenting on the development, Arkebe explained the construction of the industrial parks was scheduled to be complete in 9 months time. Currently foreign investors choose to invest in Ethiopia and building investment parks will increase the foreign direct investment (FDI) flowing to the country, he added.

According to him in the 2014/2015 fiscal year, Ethiopia’s FDI flow reached 2.5 billion USD. The government is working aggressively to further increase the flow, among which one of them is establishing additional industrial parks.

Source: Fana Broadcasting Corporate

Exchange Rates

USD 46.9363  46.0160 
GBP 61.4226  60.2182 
EUR 54.9859  53.9077 
CHF 48.4533  47.5032 
CAD 33.5285  32.8711 
AED 11.5632  11.3365