Ethiopia is one of the non-oil fastest growing economies in Sub-Saharan Africa. The World Bank and other global financial institutions have extrapolated that on the average Ethiopian economy will grow 8 percent in 2019.
This rate would be huge provided that the country has been undergoing drastic political reforms. Encouraging changes are palpable in every sector. Especially, the investment sector is showing a stunning progress. The nation is luring investors from different parts of the world. They are contributing a lot to the rapid economic growth the country has been portraying for the last couple of decades now.
The Ethiopian government has been striving to butress the nation’s economy with the manufacturing sector. Hence, it has been constructing industrial parks in various corners of the country. Industrial parks built in Hawasa, Bole Lemi, Kombolcha, Mekelle, Dire Dawa have already resumed production and absorbed thousands of employees. Domestic and foreign investors have been given shades to engage in various manufacturing activities.
Thus, the parks are already generating foreign currency through the export of valueadded products. This would catapult the economy to higher level. As part of the manufacturing development scheme, the government is tirelessly working to further reinforce the industry sector. This is also part of the regional integration effort. Hence, the Debre Birhan Industrial Park was inaugurated by Prime Minister Abiy Ahmed, Kenyan President Uhuru Kenyata and President of Amhara State Gedu Andargachew last week.
Speaking on the inaugural event that coincided with the 123rd Adwa Victory commemoration day, Dr. Abiy hailed Debre Birhan town as ‘‘exemplary town in luring domestic and foreign investors’’ and urged officials to keep the momentum of attracting investors. He called upon Ethiopians to replicate the remarkable victory of Adwa to ensure peace, stability and prosperity of their country through undertaking magnificent development endeavors like Debre Birhan Industrial park.
‘‘Our forefathers did bask under historic victory at the battle of Adwa 123 years ago just on this day. We should use this special day as inspiration to alleviate poverty as well as to ensure peace, unity and harmony. We have to bequeath prosperous and democratic Ethiopia to our children and grandchildren,’’ he said, adding: ‘‘Debre Birhan could be taken as an epitome of devotion and commitment for any investment destination in Ethiopia.
The dwellers and the administration have been working in collaboration to realize such mega projects which are very vital for ameliorating poverty and creating job opportunities. They are striving to be role models of industrialization. The government will be on their side in every endeavor they undertake.’’ Beyond striving to see to the materialization of such mega projects, Dr. Abiy has urged Ethiopians to stand together to sustain the ongoing change which is highly massive for undertaking such huge manufacturing industries.
“There are anti-change elements who struggle to bring us back to instability and chaos. However, they will not realize their malicious goal. Ethiopia will come out strong and united than ever and it will assure its greatness once again,’’ he reaffirmed. He added, it does not mean that the absence of light warrants light. As such, a concerted effort is expected from citizens.
The hand torch that Ethiopia creates must shine upwards but not downwards so that it flickers more light. Appreciating the change drive propelled by PM Abiy, President Uhuru Kenyata noted that for the crystallization of the vision which aims at integrating east Africa, Kenya is very much committed. President Gedu on his part said residents and youths of Debre Birhan must make the most use out of the industrial park built on the Angolela village found in the home town of the overarching freedom fighter Menelik II.
“You should keep it as the apple of your eyes since it would pave way for improvement of your life,” he stated. He added that the inauguration of Debre Birhan Industrial Park would inspire the federal and state governments to construct other parks. ‘‘Debre Birhan has been a soughtafter spot by many domestic and foreign investors due to its resources and proximity to port and capital Addis Ababa. The hospitality of the people and warm welcome of the administration could serve a bonus to lure investors,’’ he insisted.
Further than constructing parks, building health centers and housing for employees should grasp attention, according to Gedu. Industrial Parks Corporation CEO, Lelise Neme for her part said that Debre Birhan Industrial Park would show the government’s tireless effort and commitment to make the nation manufacturing hub of Africa. ‘‘Debre Birhan Industrial Park would be noted as one of the major development endeavors the country has been busy with since the Industrial Park Corporation commenced operating projects.
The park laid on 1,100 hectare holds eight factory shades that could create job opportunities for 13,000 people in phase one. Upon completion, phase two, the industrial park will provide job opportunity for 26,000 citizens and small holding farmers will be beneficiaries through supplying their produce for agro-processing industry to be launched under the park,’’ the CEO highlighted.
Debre Birhan is the most preferable investment destination in Ethiopia. In addition to the government built parks, domestic and foreign investors have been engaging in various investment endeavors. Turkish company has been involving in glass, garment and apparel and leather products. Indian and Chinese companies are also active in Debre Birhan. Conducive climate, abundant natural resources, energetic human power and its nearness to the capital Addis Ababa and to the port of Djibouti makes the town the best investment destination area in the country.
According to Lelise, Debre Birhan has the chance of becoming the manufacturing hub of Ethiopia. ‘‘As the area has plentiful agriculture resource like animal and farming products, agro-processing industries could be advantageous. Not only this, low income farmers would be beneficiaries in supplying their products to the manufacturing industries. Hence, the business chain will be enhanced,’’ she noted.
The Ethiopian government has set a plan of shift the nation’s agrarian economy to manufacturing based. The proliferation of industrial parks is part of the country’s ambition. Debre Birhan Industrial Park, which was started in 2017 with 75.4 million USD, would have massive significance in bolstering the industrial sector. In addition, it would maximize foreign currency earnings through producing value added and quality produces.
The Ethiopian Herald, March 10/2019
BY TSEGAY HAGOS
