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Ethiopia: Bole Lemi Industrial Park Saves Birr 2 Billion by Producing Import Substituting Products

Bole Lemi 2Bole Lemi Industrial Park saved Birr 2 billion by producing goods which substituted import products. Among the park’s manufacturing companies, Soufflet Malt and BGI, a Chinese company, take the lion’s share in the production of import substituting products. Soufflet’s malt production has fully substituted import malt while BGI’s Covid-19 testing kits have saved the country from spending foreign currency on foreign made testing products.

The industrial park has generated USD 297 million since its inauguration in 2014. It has also saved the country USD 88.3 million dollars during the past three years.

Bole Lemi Industrial Park focuses on the production of apparel and textile and is located in Addis Ababa on 172 hectares of land. It started operation with 20 factory sheds which were rented out to companies from India, China, and South Korea. Its second phase project which is located on 181 hectares of land is currently under development.

Source: Addis Zemen and Industrial Parks Development Corporation (IPDC)

Image source: IPDC