Jimma Industrial Park

IPDC: Products worth $121.9mln Exported from Industrial Parks in 9-Month

ADDIS ABABA – Ethiopian Industrial parks (IPs) generated nearly 122 million US dollars from export in the last nine months but failed to hit the target.

The IPs, however, were able to increase their supply to the local market, reducing the foreign currency spending on imports.

This is according to a nine-month performance report of the Industrial Parks Development Corporation (IPDC).

The IPDC, a public enterprise, manages twelve state-owned industrial parks across Ethiopia, hosting manufacturing companies from a range of countries across the world.

The enterprise says it has secured more than $121.9 million of the $156 million that its officials planned to get from manufacturing products export during the first three quarters of the 2022/23 Ethiopian fiscal year.

The figure is also more than $30 million short of the total forex secured in the same period last year during which IPs shipped $152.7 million worth of manufacturing products to the international market.

IPs Hit Import Substitution Target

The industries, despite failing to meet their export target in terms of value, were able to help ease the pressure of foreign currency shortage through import substitution.

Various industrial products worth more than 129 million US dollars were supplied to the Ethiopian market supporting authorities’ push to cut foreign currency spending.

The figure is not only higher than the target authorities set at $125 million but also beats the corresponding months of the previous year’s performance – in which the IPs manufactured $113.5 million worth of products for the local market.

In the same period, the enterprise says factories inside eleven IPs and the Dire Dawa Free trade zone also created 36,800 new jobs.

The IPDC has attributed the result registered “to the service delivery reforms and the great mobilization work done in cooperation together with the stakeholders.”

These activities also involve efforts to create sustainable market links between industrial parks and farmers in their vicinity. More than 100,000 farmers have created market links in Bole Lemi, Debre Birhan, and Jimma Industrial Parks alone in the nine-month period, the IPDC said in a statement.

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