They play a key role in the country's economic development
The Ethiopian Industrial Park Development Corporation (IPDC) identified significant growth in investment and production activities in Ethiopia's industrial parks, emphasising their critical role in import substitution and export diversification.
Industrial parks are industrial zones provided with all communications and technical facilities to accommodate businesses and industries.
The Government of Ethiopia established 13 such industrial parks specialising in various manufacturing sectors, including textiles, agro-processing and pharmaceuticals.
They were established with the aim of making the country a leading manufacturing centre.
IPDC Deputy CEO General Zemen Junedin told ENA News Agency that recent investments by local and foreign investors have resulted in most of the industrial park facilities being occupied, with an 85 per cent utilisation rate.
According to Zemen Junedin, the production of avocado-based edible oil in the Jimma Industrial Park benefits 70,000 farmers who grow this unsweetened fruit.
In the textile and garment sector, products produced in the industrial parks meet global quality standards and are exported to major markets including the US and Europe.
Overall, industrial parks play a key role in Ethiopia's economic development by replacing imports, diversifying exports and creating employment opportunities. The country is working to fully replace imports of food and beverages, as well as textiles and clothing, in the next three years.
Photo: IStock
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