The government of Ethiopia has secured $103 million export earnings from products manufactured in industrial parks over the first nine months of its fiscal year started July 8, 2018.
The performance has increased by 40 percent compared to last year same period, according to Ethiopian Investment Commissioner Abebe Abebayehu, who told the state news agency, ENA. He noted that the country has met 70 percent of its export earning target for the nine months period.
Textiles, shoes and other leather products were among the manufactured items that generated hard currency for Ethiopia. The report also stated that the active industrial parks of Ethiopia have so far created jobs for over 70,000 people of which around 16,000 were created over the past nine months.
Ethiopia’s industrial parks include, Hawassa, Bole Lemi, Kilinto, Mekelle, Dire Dawa, Kombolcha, Debre Birhan, Addis Industrial Village and Jimma, among others. With aim of creating jobs and transforming its agrarian economy into manufacturing, the country is also building additional industrial parks in different parts of the country.
The country targets to increase the number of industrial parks to 30 to become Africa’smanufacturing hub and lower-middle-income economy by 2025.