Addis Ababa, March 3, 2024 (FBC) – The engagement of Ethiopia’s local producers in industrial parks has grown to 55 percent from last year’s 10 percent, according to Industrial Parks Development Corporation.
The government of Ethiopia established 13 industrial parks specialized in various manufacturing sectors including textile, agro-processing and pharmaceutical with the vision to make the country a leading manufacturing hub by enhancing import substitution and export trade.
Industrial Parks Development Corporation CEO Aklilu Tadesse said the manufacturing industry is one of the sectors that have been given prior attention in the homegrown economic reform agenda of the country.
He stated that during the past four years, a number of measures have been taken to revive the industry citing the efforts carried out in enhancing the engagement of domestic producers in parks, substituting imported goods, and fostering new business relationships.
In addition, policy amendment has been done with the aim for developers to produce for export and domestic markets as the engagement of local producers in industrial parks has grown to 55 percent from last year’s 10 percent.
The manufacturing shades located in Bole Lemi, Adama, Dire Dawa and Semera industrial parks are fully occupied by investors, according to ENA.
Highlighting that efforts are being carried out to expand market destinations in America, Europe, Africa and Asia, he noted encouraging and supporting the local investors, increasing exports and expanding market access are the next priority areas.