Addis Ababa, December 3, 2024 (FBC) – The Ethiopian Investment Commission (FBC) promoted 10 of the 13 industrial parks managed by Industrial Parks Development Corporation (IPDC) into Special Economic Zones, the Corporation disclosed today.
In a letter communicated to IPDC, the Commission indicated that IPDC has been accorded the status of uni-purpose Special Economic Zone in respect of 10 of the 13 industrial parks in the country that are managed by the Corporation.
The industrial parks that have been upgraded into SEZ are Adama, Bahir Dar, Bole Lemi, Debre Birhan, Hawassa, Jimma, Kilinto, Kombolcha, Mekelle, and Semera industrial parks.
Note that Dire-Dawa Special Economic Zone has been the country’s only SEZ managed under IPDC so far. In that regard, the total number of Ethiopia’s SEZs has now reached 11.
This designation follows the enactment of the Special Economic Zone Proclamation No.1322/2024 by the House of Peoples’ Representatives and the Corporation’s undertaking and fulfillment of the necessary criteria set out in the legislation for attaining a Special Economic Zone status, the Commission pointed out.
EIC noted that any future expansion, upgrading or significant change in park-related investment operations will need to comply with the SEZ Proclamation and directive.