Turnover Trumps at Industrial Parks

November 7 , 2020


Turnover Trumps at Industrial Parks

About 11,169 employees from industrial parks have left their jobs in the first quarter of the fiscal year, according to a report from the Ethiopian Investment Commission, which also reported that 10,864 new jobs have been created there. The effects of the Novel Coronavirus (COVID-19) pandemic and expensive housing and living conditions for employees around parks were attributed to the high turnover rate, according to Commissioner Lelise Neme. “A lot of work is being done to provide housing units for employees at industrial parks with the help of development partners,” said the Commissioner. Within this same quarter, the Commission issued 36 investment licenses, 17 of which went to the service sector, while four and 15 were for agriculture and manufacturing, respectively. Additionally, five industrial parks began offering one-stop service. Only half of the targeted one billion dollars was generated through foreign direct investment over the quarter.


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