Ethiopia aims to become Africa's manufacturing hubStaff Writer | October 24, 2017
Ethiopia will inaugurate four industrial parks during the current Ethiopian 2017/2018 fiscal year.
Africa $1 billion for industrial parks
Two other industrial parks in Kilinito and Bole Lemi-II, both located at the outskirts of the capital Addis Ababa, are also scheduled to be inaugurated in February 2018.
Except the Kilinto industrial park, which is specialized in pharmaceuticals, the other three are under construction to attract local and foreign investors in Ethiopia's textile and apparel productions sector.
According to Belachew Mekuria, Deputy EIC Commissioner, as the construction of the four industrial parks expected to be finalized in just a one year timeframe, the east African country anticipates the ever growing number of industrial parks would accelerate the country's ambition to become the African continent's powerhouse in the manufacturing sector.
The Ethiopian government has planned to construct some 15 industrial parks during the second five-year Growth and Transformation Plan (GTP-II) period, due effective from 2015 to 2020.
The east African country has also budgeted more than $1 billion for the construction of industrial parks during the reported period. ■