Corporation plans $400m export earnings

Addis Ababa, September 2, 2020 (FBC) -The Industrial Parks Development Corporation has planned to generate $400 million from exports this Ethiopian budget year.

Creating 45,000 permanent jobs is also part of the plan, said Deribe Debele, Corporate Marketing and Communication Head at the corporation.

There are now 12 industrial parks across the national, of which seven are operational. The remaining five industrial parks will become fully operational this year, he said.

In order to attain the plan, efforts are underway to minimize the COVID-19 challenges, improve infrastructure developments and enhance electric power supply to the parks, he stated.

In addition to completing and making operational the five parks, 17 vacant shades in the old parks will be handed over to investors to achieve the annual plan, he told ENA.

Industrial parks in Ethiopia generated $165 million and created 11, 880 jobs last Ethiopian fiscal year.

The low performances in both job creation and export revenue were mainly due to the COVID-19 challenges and frequent power outages among other things, he said.