Industry Parks Generate $142m

Aug 10 , 2019


The eight operational industrial parks in the country generated 142 million dollars from exports in the just-ended fiscal year, showing a 50pc increase from the preceding year. The manufacturing sector contributes to 85pc of Foreign Direct Investment (FDI) in the country, according to Hana Araya Silassie, the deputy commissioner at the Ethiopia Investment Commission. Built by Industrial Parks Development Corporation at an estimated cost of 30 billion Br, Ethiopia has eight operational industrial parks, while five are still in the pipeline. However, the overall commodity export revenue of the country has declined by 5.9pc in the last fiscal year, bagging 2.7 billion dollars.


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