🇪🇹EthiopiaEast Africa
Ethiopian Industrial Parks Development Corporation generates 5.8 billion Birr revenue, attracts $750 million in investments
via The Reporter Ethiopia2 min read
The Ethiopian Industrial Parks Development Corporation IPDC reported over 5.8 billion Birr in revenue from services provided to companies in its industrial parks during the past fiscal year. This revenue, generated from infrastructure services, rental income, and land lease fees, marks a 42 percent increase from the previous fiscal year. Companies within these 14 industrial parks created over 70,000 new jobs and earned USD 266.9 million from exports, more than double the previous year's figure, with solar cell manufacturers contributing the largest share. The IPDC also attracted 166 investors, committing over USD 750 million to industrial parks and special economic zones. Of these new investments, 84 percent are from domestic Ethiopian investors, 10 percent are foreign direct investment projects, and 6 percent are joint ventures. These investments span various sectors including trade, logistics, agro-processing, pharmaceuticals, textiles, chemicals, construction, engineering, and metal industries. Additionally, the corporation established market linkages between over 152 enterprises and 5,800 farmers, facilitating transactions worth more than 17 billion Birr. Industries in the special economic zones and industrial parks also produced import-substituting goods valued at over 26.7 billion Birr for the domestic market, a 44 percent increase from the prior fiscal year, with Bole Lemi, Adama, and Debre Birhan Special Economic Zones leading in import-substituting products.
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This summary was AI-generated from a story originally published by The Reporter Ethiopia.
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