The Industrial Parks Development Corporation (IPDC) says the government has invested $1.5 billion over the past 10 years to develop industrial parks and fulfill infrastructure requirements.
At a discussion forum organized to strengthen the participation of financial institutions within Special Economic Zones (SEZs), Mr. Fitsum Ketema, Deputy CEO of the Corporation, stated that the government has allocated significant capital by giving high priority to the construction and infrastructure development of industrial parks.
He noted that the Corporation currently manages 14 Special Economic Zones and industrial parks, which house more than 250 domestic and foreign investors.
Mr. Fitsum indicated that more than 60% of the investors operating within these Special Economic Zones and industrial parks are domestic investors.
Emphasizing that these local investors require extensive financial support in addition to infrastructure supply, he urged banks to give proper attention to the sector and support investors.
The Deputy CEO mentioned that the service provision, which was previously restricted to only one bank, has now been resolved; currently, all commercial banks are operating within the Special Economic Zones.
Stating that banks and investment must remain integrated, Mr. Fitsum called upon financial institutions to play their part in the country’s economic growth by strengthening the sector through financial supply.
IPDC has developed and currently manages 11 special economic zones, and 3 industrial parks across Ethiopia. These special economic zones are strategically positioned along the country’s major development corridors, taking into account transportation links and resource hubs.
