Ethiopia, a country located in the Horn of Africa, has been making significant strides in its economic development over the past decades. One of the key drivers of this growth has been the establishment and expansion of industrial parks across the country.
These industrial parks have transformed Ethiopia into a burgeoning hub for manufacturing and investment, attracting both domestic and foreign companies. In this article, we will explore the remarkable growth of industrial parks' development in Ethiopia and its implications for the country's economy.
Industrial parks' development has been a catalyst for job creation in Ethiopia. These parks have created a significant number of employment opportunities, particularly for the country's growing young and skilled workforce. By providing training and skill development programs, the parks contribute to human capital development, equipping the workforce with the necessary skills to meet the demands of the manufacturing sector.
The Park, which covers 294.5 hectares, concentrates on processing organic dairy, avocado, and coffee for export, is also playing a pivotal role in the national economy by exporting its products abroad and enhancing import substitution. Indicating that the park was officially inaugurated three years ago, the CEO revealed that the park has secured 15.5 million USD from the export trade of edible oil extracted from the pulp of avocados during the stated period.
For most farmers, the RTCs are the main point of contact with commercial agricultural value chains, according to the park. Continued investment in infrastructure development is crucial to attract more investment. The government has to focus on improving transportation networks, expanding power generation capacity, ensuring reliable water supply, and enhancing ICT connectivity within and around industrial parks. Upgrading infrastructure will increase the attractiveness of the parks and provide conducive environment for businesses to operate.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ethiopia: USAID Improves Food Systems in Ethiopia With Two New Agriculture Projects Valued At $86.5 MillionPress Release - On March 5th, USAID Economic Growth and Resilience Office Director Amber Lily Kenny and State Minister Dr. Meles Mekonin from the Ministry of Agriculture, launched a $77 million Feed the Future Ethiopia Transforming Agriculture, and a $9.5 million Feed the Future Ethiopia Seed Systems projects.
Read more »
Ethiopia: In Ethiopia, Three Young Women Advocate for a Community Free From Female Genital MutilationEntering adulthood can be a beautiful journey, but for those who have experienced female genital mutilation (FGM), it often carries layers of pain and trauma. FGM leaves a scar that goes beyond physical pain. It robs young girls of the opportunity to embrace womanhood on their own terms. The shame and trauma often lingers with them for a long time.
Read more »
Ethiopia: Indian Companies Invited to Seize Investment Opportunities in EthiopiaEthiopian Ambassador to India, Demeke Atnafu called on Indian companies to further invest in Ethiopia and seize the untapped business opportunities in the east African nation.
Read more »
Kenya, Ethiopia Deepen Economic Ties with Revamped AgreementPresident William Ruto and Ethiopian Prime Minister Abiy Ahmed have endorsed the revitalization of the 2012 Special Status Agreement, emphasizing trade and investment in bilateral talks at State House, Nairobi.
Read more »
Expanding South African Tax Base: A Necessity for Economic GrowthFollowing the budget speech, it is crucial to expand the South African tax base to address economic challenges. The informal economy and lack of tax knowledge among small businesses contribute to the weakening of the tax base.
Read more »
CEOs in sub-Saharan Africa Expect Economic Growth but Feel Exposed to InflationFifty-two percent of CEOs across sub-Saharan Africa (SSA) expect economic growth locally and in their Africa territory (compared to 44% globally) in the next 12 months but, at the same time, 50% of these CEOs feel more exposed to inflation and macroeconomic volatility (40%).
Read more »