The Industrial Parks Development Corporation (IPDC) plans to construct over 100 industrial parks in Ethiopia in the coming years. This ambitious plan is aimed at driving the country's industrialization and economic growth.
IPDC currently operates 13 industrial parks across the country, serving as vital hubs for industrial activities. These parks are located in strategic areas with access to transportation, utilities, and other infrastructure. They offer a variety of incentives to attract investors, including tax breaks, land and building leases, and access to financing.
"We are also urging banks to develop a loan system based on feasibility studies and other criteria to prevent losses. Currently, our corporation is focused on expanding and diversifying the services of Industrial Projects Services (IPS), which includes consultancy, research, and training. This will ensure the successful completion of both government and private sector projects," Fitsum Ketema, the Head of the IPDC, stated. IPS has conducted approximately 600 feasibility studies for government and private sector initiatives. However, there have been instances of failed projects due to leadership and operational challenges.
Source: The Ethiopian Herald