AFRICANGLOBE – About 8 industrial parks being built in main regional towns will go operational this Ethiopian fiscal year, according to the Ministry of Industry (MoI).
The industrial parks are expected to increase the competitiveness of local and foreign investors, Taddesse Haile, Industry State Minister said.
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 industrial parks are central to Ethiopia’s plan to build an industrial base and effectively exploit the African Growth and Opportunity Act (AGOA) opportunity, the State Minister said.
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 has 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