Industrial Parks Generates $196m

Sep 3 , 2022

Industrial parks operating in the country generated 196 million dollars from exports in the just-ended fiscal year, showing a 38pc increase from the preceding year. However, the figure fell short of the 122 million dollar export target set by officials for the year. There are 13 industrial parks built by Industrial Parks Development Corporation (IPDC) at an estimated cost of 30 billion Br. The parks created job opportunities for 81,000 factory workers, according to Sandokan Debebe, chief executive officer (CEO) of the Corporation. Established six years ago, Hawassa Industrial Park is the largest among the 13 parks. It was established with the hope of making the country a leading apparel and textile hub and generating one billion dollars in revenue annually. But the Park has not lived up to the expectations. Last year, companies operating inside Hawassa Industrial Park generated 114 million dollars in export revenues with markets in the US and Europe accounting for the bulk.