Addis Ababa, April 9, 2024 (FBC) – The Industrial Parks Development Corporation of Ethiopia (IPDC) disclosed that sales of products manufactured at Arerti Industrial Park for the domestic market have yielded over 1 billion birr in revenue over the past eight months.
Mr. Zemen Junedin, the Deputy CEO of the Corporation, highlighted that the manufacturing of import substitution goods at the Arerti Industrial Park has resulted in savings exceeding 19.4 million US dollars in foreign currency.
He indicated that a market linkage valued at over 12.5 million US dollars has been established between local residents near the industrial park and manufacturing firms across the country for the supply of industrial input materials.
According to IPDC, the Arerti industrial park has generated employment opportunities for over 1,500 individuals. Three investors who have made substantial investments within the industrial park are involved in the production of garments and textiles, ceramics, and woodworking.
These developments underscore the growing impact and potential of the Arerti Industrial Park in driving economic progress and fostering industrial growth in Ethiopia.