Local Investors Urged to Engage in Industrial Parks

ADDIS ABABA – Industrial Parks Development Corporation has called on local investors to engage in the manufacturing sector inside the industrial parks built across Ethiopia.

Officials of the Corporation have held a half-day meeting with investors in industrial parks on Friday.

During the meeting, the CEO of the Corporation Sandokan Debebe said the engagement of local investors in the industrial parks of Ethiopia is low when compared with foreign investors.

Of the 94 local investors in the industrial parks, only 15 are local investors, according to state-run news agency ENA.

Local investors are encouraged to invest in industrial parks, Sandakan said advising them to exploit the opportunities provided by the parks.

Ethiopian Investment Commissioner, Lelise Nemie reiterated government’s commitment to support their engagement in industrial parks and enhance awareness and capacity building training for the investors.

Most local business persons are engaged in trading than in industries, and the government wants to draw them to invest in the manufacturing sector.

The commission said it cut red tape to make that a reality. There are 13 government-owned industrial parks in the country.