Industrial Parks Generate $103m

May 4 , 2019


Industrial Parks Generate $103m

The five operational industrial parks generated 103 million dollars from exports in the first three-quarters of the current fiscal year. This is a 40pc improvement from last year’s performance, which was 73.1 million dollars. Textile, garment, shoes and other leather products exported to the United States, Europe and Asia were the sources of the revenue. During the reported period, the parks created 16,000 new jobs, bringing the total number of employees in the five parks to 70,000. The government has plans to build 11 industrial parks with an estimated cost of 30 billion Br. So far, it has completed the construction of seven parks, of which five: Hawassa, Bole Lemi I, Kombolcha, Meqelle and Adama industrial parks are operational.


Radar

Leather Industry Struggles to Meet Expectations

The struggling leather industry managed a little over 33 million dollars in export earnings over the first 10 months of the financial year. It is less than half of officials' aspirations to generate 69 million dollars over the same period, and highlights the troubles faced by the industry over the past few years. Exports from finished leather goods plunged 72pc last year from three years ago. Only eight finished leather manufacturers accounted for 89pc of last year's export earnings, sh...


Radar

Corporation Calls on Suppliers for 200,000tn Sugar Procurement

Executives of the Ethiopian Sugar Corporation have taken steps to procure 200,000tn of sugar from international suppliers. The Corporation had invited shortlisted companies to submit offers, after an attempt to procure the sugar through an international tender went awry. However, officials at the Ministry of Finance instructed its executives to scrap the invitation and proceed to float a second bid. The shortlisted suppliers have also been invited to take part in the bidding process. T...


Radar

TAGGED

Youth in the National Theatre area are waiting for the bus to start moving. They have found a handle to grab and accelerate them ones its starts moving as they ride their skateboard. Although skateboarding is nearly unheard of in Ethiopia, over the past few years, young people have developed a taste for it. Safety, though, leaves a lot to be desired...