Nation Generates $110 million from Industrial Parks

Oct 26 , 2019


[ssba-buttons]

The nation generated 110 million dollars from industrial parks in the last fiscal year. For this fiscal year, the nation plans to increase the revenues gained from exported products by 50pc. The country gets 400 million dollars from the World Bank to operate the industrial parks, said Amare Asgedom, Deputy CEO of Industrial Parks Development Corporation. In the coming 10 years the number of industrial parks will reach 100, he added. The most recent industrial park, Debre Birhan Industrial Park, was built on a total of 1,100 hectares of land with eight production sheds and inaugurated in March 2019. The Park, which was built at a cost of more than 75 million dollars, will create job opportunities for about 1,000 Ethiopians. So far, the government has completed the construction of seven parks, while Hawassa, Bole Lemi I, Kombolcha, Meqelle and Adama industrial parks are already operational.


Radar

State-Owned Enterprises Deliver, But Fund Seeks More from Underperformers

Ethiopian Investment Holdings (EIH), the country's sovereign wealth fund, closed its annual performance review with a mix of strong gains and lingering concerns across its portfolio of state-owned enterprises. Ethiopian Shipping & Logistics led the year with 4.5 million tons of cargo, driving revenues up 90pc and doubling pre-tax profit. Sugar production from Wonji Shoa, Metehara, and Fincha climbed 34.8pc to 163,290 tons, nearly doubling revenues to 15.6 billion Br, though EIH flagged ch...


Radar

MIDROC Cocoa Drive, Local Production Focus on Value Addition

MIDROC Investment Group is placing a bold wager on cocoa in the lowlands of Sheka. Building on extensive trials at the Bebeka Coffee State Farm, the company has introduced globally prized Forastero, Trinitario, and Criollo varieties alongside coffee. "The results are astonishing," said General Manager Beshada Worku, pointing to international prices that range from 8,200 to 14,000 dollars a ton. The project's first phase covers 50 hectares, with 44,000 seedlings already planted. Expansion to ...


Radar

Bureau Maps Out 1,700 Land Rights in a Month

The Rights Registration & Holding Service Directorate under the Bureau of Land Development & Administration prepared over 1,700 landholding certification maps in a single month. The update came during the bureau's July performance review, which measured progress against the upcoming fiscal year's targets. Director Tesfamichael Endale said efforts are being scaled up to give farmers secure land rights and quicker certification. Deputy Head WendwossenBanjaw added that the priority ahead...