US $1.2bn industrial parks construction in Ethiopia in good progress

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The construction of industrial parks in Ethiopia is so far in good progress with the completion of Hawassa and Bole Leme. They have both created 12,000 and 13,000 jobs respectively.

Ethiopia allocated a whopping US $1.2bn for the construction of industrial parks this fiscal year and this is in connection with their vision of becoming Africa’s light manufacturing hub by 2025.

Sisay Gemechew, Industrial Parks Development Corporation General Manager confirmed the reports and said that they are working day in and day out to realize this set goal and the overall construction of industrial parks is at a promising pace.

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Modern industrial parks

He further pointed out that modern parks have a view of attracting both local and foreign investors and entrepreneurs into their country.

The dream will be realized especially with the allocation of the funds for the construction of the eleven parks across the country this fiscal year alone.

Moreover, the parks that have gone operational have so far proven successful towards the industrialization development. Jobs have been created as well as a conducive environment for knowledge transfer and youth employment has been experienced.

Ethiopia has at the moment planned to construct 25 industrial parks out of which some are already complete while others are still under construction and others are on the pipeline. However, most of them are owned by foreign investors, though the government facilitates loans.