BY TSEGAYE TILAHUN
ADDIS ABABA —Industrial Parks Development Corporation (IPDC) said that, it has finalized preparations to establish and launch the Dire-Dawa Free Trade Zone at the Industrial Park there.
Briefing the media, lPDC Strategy Advisor Kiyya Tekalign said that, necessary preparations have been finalized to establish a free trade zone in Dire Dawa Industrial Park.
It has also completed legal frameworks, working system and infrastructure preparations to help it start the service. The free trade zone is expected to benefit companies with fragile imports in due course of running manufacturing process that would result in a large amount of scrap. The industrial park of the Companies would avoid the bureaucratic red tape in the process of providing service, he said.
The free trade zone would focuson supporting manufacturing, importing and exporting steps as well as promoting logistics sectors. The zone has thus aimed at boosting export revenue, creating jobs, increasing import substitution, transferring knowledge and others, he stated.
He said: “The free trade zone would play a crucial role in reducing logistics expenditure specifically via minimizing inflation pressure. It offers a special opportunity to reduce custom duties on products.”
As to him, custom laws would be applied in a way that help boost economic development and investors, manufacturers and others will be the beneficiaries of new incentive packages and others.
The Ethiopian Herald 9 August 2022