The Ethiopian Industrial Parks Development Corporation (IPDC) generated more than 5.8 billion Birr in revenue from services provided to companies operating in the industrial parks under its management over the past fiscal year. Speaking to The Reporter, IPDC communications head Paulos Belete said the revenue was generated from infrastructure services, rental income, land lease fees, and other services provided to domestic and foreign companies operating in the corporation’s 14 industrial parks. He added that the performance represents a 42 percent increase compared to the previous fiscal year, and said companies operating in the parks created more than 70,000 new jobs during the fiscal year.
According to Paulos, they also earned USD 266.9 million from exports to international markets, more than double the figure from the previous year. Paulos explained that the largest share of exports came from manufacturers producing solar cells. Three companies located in Hawassa Industrial Park are engaged in manufacturing solar cells for export.
Beyond export performance, the corporation also attracted 166 investors with a combined investment commitment exceeding USD 750 million into the industrial parks and special economic zones under its administration during the fiscal year, according to the communications director. He stated that these investors have already secured investment licenses from the Ethiopian Investment Commission and signed agreements with the Corporation. Of the newly attracted investments, 84 percent are from domestic Ethiopian investors, 10 percent are foreign direct investment (FDI) projects, while the remaining six percent are joint ventures between Ethiopian and foreign investors.
The investments secured during the 2018 fiscal year span trade and logistics, agro-processing, pharmaceuticals and medical equipment manufacturing, textiles and garments, chemicals and construction, as well as engineering and metal industries. Separately, the Corporation announced that it established sustainable market linkages between more than 152 enterprises and over 5,800 farmers operating within its special economic zones and industrial parks. According to Paulos, these market linkages facilitated commercial transactions valued at more than 17 billion Birr between farme…
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