Gelila Manufacturing PLC has officially launched the production of export-quality shoes and soles at Bole Lemi Industrial Park with an investment of Birr two billion. The inauguration ceremony attracted officials, industry leaders, and invited guests.
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Industrial Parks Development Corporation of Ethiopia (IPDC) has signed a Memorandum of Understanding (MoU) with Anda Vehicle Manufacturing Company and Aniy Furniture PLC, a Chinese electric vehicle and modern office furniture manufacturer.
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TOYO Solar has signed a Memorandum of Understanding (MoU) with the Ethiopian Investment Commission (EIC) to invest USD 60 million in establishing its first solar cell manufacturing plant in Ethiopia. The new facility will be located in the Hawassa Industrial Park.
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Ethio Engineering Group (EEG) revealed that it had turned a profit after overcoming bankruptcy - which was prevalent over the past two years. The company celebrated this achievement by inaugurating its newly renovated main office building over the weekend.
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Despite investing heavily in industrial park development, Ethiopia has yet to fully realize its economic potential from these facilities. A high-level consultation between the Industrial Parks Development Corporation (IPDC) and the Ethiopian Investment Commission (EIC) revealed that while over 1.6 billion USD has been poured into 13 industrial parks over the past nine years, their combined revenue has only reached USD 1.2 billion USD.
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Hawassa Industrial Park saved over USD 13.9 million in the 2023/24 fiscal year by replacing imported products with locally manufactured goods, according to the park’s General Manager, Mathews Ashenafi.
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