Local Companies Participation in Industrial Parks Growing: IPDC

Addis Ababa: More than 60 local companies are operating in various investment sectors at Industrial Parks, according to Industrial Parks Development Corporation (IPDC).

Investment Promotion and Marketing sector Deputy CEO at IPDC Zemen Junedin said the participation of local companies in industrial parks has been increasing.

He added that the local companies has exceeded 60, he said, adding the companies have completed pre-investment activities and some have started operations.

The priority the government has given to the homegrown economy over the last four years has been instrumental to the growth of local companies’ participation in industrial parks during the last one year, he said.

According to him, the incentives being provided for local investors including income tax relief, imports of duty-free machines and vehicles that can help for production have played a crucial role for the increase of the companies in industrial parks.

Modernization of the corporation’s service delivery with technology and
a system put in place to allow investors to launch operation fast have also contributed for the increase of local companies in industrial parks..

Stating that those local companies are working on priority areas of agro-processing, manufacturing and pharmaceutical sectors, he said strong market linkage is being created for them.

The companies have created jobs for citizens especially for women, he said.

Moreover, he said industrial parks are producing young people who can easily master technology know-how, in addition to the production process and technology transfer, he further pointed out.

Jobs are created to over 100,000 citizens at 12 industrial parks and Dire Dawa Free Trade Zone, according to the Industrial Parks Development Corporation (IPDC).

Source: Ethiopian News Agency