Ethiopian govt records $103mn export income from products made in industrial parks

The government of Ethiopia has recorded USD 103 million export earnings from products manufactured in industrial parks since the starting of its last fiscal year on July 8, 2018.

According to Abebe Abebayehu, Ethiopian Investment Commissioner, the performance has augmented by 40 percent. He noted that the country has met 70 percent of its export earning target for the nine months period.

Ethiopia has witnessed the generation of hard currency through products like shoes, textiles and other leather merchandise. The active industrial parks of Ethiopia have so far created jobs for over 70,000 people of which around 16,000 were created over the past nine months, as reported by New Business Ethiopia.

Ethiopia’s industrial parks include Hawassa, Bole Lemi, Kilinto, Mekelle, Dire Dawa, Kombolcha, Debre Birhan, Addis Industrial Village and Jimma, among others. With aim of creating jobs and transforming its agrarian economy into manufacturing, the country is also building additional industrial parks in different parts of the country. Ethiopia seeks to augment the number of industrial parks to 30 to become Africa’s manufacturing hub and lower-middle-income economy by 2025.

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