Four industrial parks in Ethiopia will be constructed in the next two years that will cost US$ 2bn, a senior government official has confirmed.
Trade and industry State Minister Tadesse Haile confirmed that the concerned people have finalized on the inspection of four more parks in the eastern town of Dire Dawa, Kombolcha and Mekelle in the country’s North, and Adama in the capital’s south waiting for the launch that will take place soon.
“The construction of the Four industrial parks in Ethiopia will cost us US$500m per park but this development is a worthy and a good attraction for investment and our vision in the next five years is to be a leader in the light manufacturing industry in Africa. This is inevitable,” Haile said.
The reports were also confirmed by a senior government official who said that currently the country is doing well in terms of infrastructure expansion, from light rail train to enhanced power supply that really attract low-end manufacturing businesses seeking new factory locations.
Ethiopia is currently attracting many investors to their countries because of the potential they have. Among those with a presence their include clothes retailer Hennes and Mauritz (H&M), which is starting to source supplies, as well as U.S.-clothing maker Phillips-Van Heusen Corp which is set to source garments from the industry zone in Awassa. International retailers Wal-Mart Stores Inc and France’s Carrefour have also shown some interest in doing business in Ethiopia, as well as V.F. Corporation (VF) and Italian garment maker Calzedonia.
Information on the company that will undertake the project is not yet known.