Ethiopian industrial parks corporation reports 5.8 billion birr revenue
Ethiopia’s Industrial Parks Development Corporation says service revenue rose 42 percent in the past fiscal year as firms in its parks expanded exports and domestic sales.
The Ethiopian Industrial Parks Development Corporation generated more than 5.8 billion birr in service revenue during the past fiscal year, a 42 percent increase from the previous year, according to figures provided by the corporation.
IPDC communications head Paulos Belete told The Reporter Ethiopia that the income came from infrastructure services, rents, land leases and other services across 14 industrial parks. He said companies operating in the parks created more than 70,000 jobs and earned $266.9 million from exports during the year. The figures were reported by the corporation and were not independently audited in the source material.
Paulos said 166 investors made commitments exceeding $750 million for projects in industrial parks and special economic zones. Domestic investors accounted for 84 percent of the projects, foreign investors for 10 percent and joint ventures for the remaining six percent. The agreements require the investors to begin operations within two years.
The corporation also reported more than 26.7 billion birr in import-substituting goods sold domestically, up 44 percent, and said commercial links between 152 enterprises and more than 5,800 farmers supported transactions worth over 17 billion birr.
