Ethiopia will start the construction of four industrial parks late this month. The announcement was made by Board Chairman of Ethiopian Industrial Parks Development Corporation, Arkebe Oqubay (Dr.), according to 2Merkato.
The industrial parks are going to be built in Adama, Mekele, Kombolcha and Dire Dawa. The construction is projected to be undertaken at an outlay of 1 billion USD.
Commenting on the development, Arkebe explained the construction of the industrial parks was scheduled to be complete in 9 months time. Currently foreign investors choose to invest in Ethiopia and building investment parks will increase the foreign direct investment (FDI) flowing to the country, he added.
According to him, in the 2014/2015 fiscal year, Ethiopia’s FDI flow reached 2.5 billion USD. The government is working aggressively to further increase the flow, among which one of them is establishing additional industrial parks.