Ethiopia’s Ministry of Industry of Ethiopia (MoI) has said that about eight industrial parks, that are being undertaken in main regional towns, will become operational this Ethiopian fiscal year.
Tadesse Haile, Ethiopia’s Industry State Minister, said that the industrial parks are expected to boost the competitiveness of local and foreign investors.
“An industrial park built at Bole Lemi area in Addis Ababa has already started operation, while the Hawassa industrial park will go functional within the coming three and four months,” he stated.
The minister pointed out that industrial parks are central to Ethiopia’s plan to build an industrial base and effectively exploit the African Growth and Opportunity Act (AGOA) opportunity.
In the second Growth and Transformation Plan (GTP-II) period, due attention will be paid to effectively use AGOA, a nonreciprocal trade preference program that provides duty-free treatment to U.S. imports of certain products from eligible African countries.
World Bank Group President, Dr. Jim Yong Kim, recently praised Ethiopia’s endeavor in building environmentally friendly industrial parks.
“Ethiopia is playing a leading role in Africa by building environmental mitigated industrial parks that contribute to sustainable development,” he said.
This post first appeared HERE