Industrial Parks Generate $104.4mln Export Revenues, Continue Making Jobs
ADDIS ABABA – Industrial parks (IPs) in Ethiopia have created more than 33,000 new jobs while generating $104.4 million export revenues in the first-half of the current fiscal year, says IPDC on Friday.
Speaking about their six month performance report to journalists, officials of the Industrial Parks Development Corporation (IPDC) said the IPs created a total of 33, 371 jobs in the past six months.
Of these, 28,402 are for women, said Henok Asrat, marketing and communications Department chief at EIPDC.
The Corporation currently manages at least 13 industrial parks that have attracted more than 100 major investors.
IPDC mentioned three industrial parks specifically for their performance in terms of the highest new jobs created during the period.
Hawassa Industrial park was able to hire 45% of the total 33, 371 new workers while Bole Lemi and Adama absorbed 26.3% and 16.5% of the new workers, respectively.
In the same period, the country secured more than $104.4 million export revenues from products manufactured in its industrial parks in the first half of the fiscal year.
The IPs were also able to manufacture products for local market demand that has helped the country to save an estimated $80 million, easing its Foreign currency pressure, said IPDC officials.
Despite encouraging results in terms of job creation and revenues, the Corporation has faced several challenges in its efforts to expand industrial parks as well as the parks ongoing performance.
Problems related to demarcation around parks and the availability of construction materials such as cement have been mentioned as major ones while frequent electric outages pose a challenge to the industrial parks.
