Corp Incentivises Investors in Industrial Parks

Jun 27 , 2020

The Industrial Parks Development Corporation (IPDC) has availed incentive packages to industrial park investors to withstand the effects of the Novel Coronavirus (COVID-19) pandemic. The incentives, aimed at alleviating the burden on the investment sector, will be applicable to companies operating within the country's operational industrial parks. Free transport of goods from Modjo Dry Port to the Djibouti port is one of the three main incentives availed. The government has also allowed the local sale of products for investors that have had no orders from abroad for the past two months and who have lost procurement agreements from clients. Lastly, a six-month discount cargo service was also offered for Ethiopian Airlines Cargo Services customers in the parks. The industrial parks in the country have generated 122 million dollars within the past nine months of the budget year, showing a 32pc increment from the past budget year during the same period. The parks employ over 70,000 workers across the country.