Ethiopia generates over $46mln export revenue from industrial parks

Industrial parks in Ethiopia have exported worth over 46 million USD products during the first quarter of the current Ethiopian fiscal year, Ethiopian Investment Commission (EIC) said.   

EIC Commissioner, Lelise Neme told the media recently that despite the challenges of Covid-19 the East African country earned about 46.1 million U.S. dollars in exports from both the public and private industrial parks that are operational across the country.

Ethiopia is exporting mainly apparel, textile, shoes, leather and leather products from its industrial parks.

The stated amount of export earning has accounted for 71 percent of the target in the stated period, according to the Commissioner.  

“For us, the revenue generated during the quarter was not bad as we have been confronting the challenges posed by COVID-19 which is currently affecting the sector even at the international level’’, she said.

Ethiopia was also able to ease the impact of COVID-19 on the investment sector by facilitating ways for the companies to engage in other types of products vital to prevent COVID-19, she said.

Several manufacturing companies have now producing face masks and other personal protective equipment (PPE) as well as COVDI-19 testing kits that helped the sector to shoulder the impact of the pandemic.

Meanwhile, over the last three months the foreign direct investment has created jobs opportunities to over 14,600 people of which close to 10,864 jobs were created in the industrial parks. Of the total, 80 percent of the employees were female.  

The commission has been striving hard to attract more FDI to the country despite the challenges of Covid-19 and further intensify investment in the newly inaugurated industrial park, according to Commissioner Lelise.