Ethiopia Plans $400 Mn Export Earnings from Industrial Parks in New Ethiopian Fiscal Year

 

ipdcEthiopia's Industrial Parks Development Corporation (IPDC) announced plans to generate $400 million in exports in the Ethiopian fiscal year which began July 8, 2020. While doing so, 45,000 permanent jobs will also be created, Deribe Debele, IPDC's Corporate Marketing and Communications Head noted.

Mr. Deribe further noted five additional industrial parks will go fully operational this year, bringing the total number of industrial parks Ethiopia has up to twelve, ENA reported. To this end, the Corporation is working to minimize challenges related to COVID-19, speed up infrastructure developments, and enhance electric power supply to the industrial parks.

Moreover, 17 vacant shades in the existing five industrial parks will be handed over to investors. 

In the recently concluded fiscal year, Ethiopia's industrial parks have generated $165 million and created 11,880 jobs. However, job creation and export revenue have not been as expected mainly due to challenges related to the coronavirus pandemic, and frequent power outages. Mr. Deribe pointed out.

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