ADDIS ABABA– The Ethiopian Investment Commission announced that Kombolcha Industrial Park has generated over 4.4 million USD export earnings from manufactured products.
Commission, Public relations and Communication Director Mekonon Hailu told The Ethiopian Herald that over the past ten months the Park has generated 4,416, 212 USD export earnings from manufactured products and created over 1,700 permanent and temporary jobs.
He stated that four foreign companies have started exporting manufactured products to America, Europe and Asia markets from Kombolcha Industrial Park. Recently, Trivas – an American company has started exporting suit to American market.
The provision of One-Stop- Service (OSS) such as telecom, Custom and Immigration, labor and social affairs and Commercial Bank services enabled investors to be successful and efficient, he pointed out.
He also added that the country has generated 103 million USD export earnings from manufactured products produced in the parks over the past nine months. The performance has increased by 40 percent compared to last year same period. The country has met 70 percent of its export earnings target in the reported period.
Textile, shoes and other leather products were among the manufactured items that generated foregin currency. The parks have created jobs for over 70,000 people, he noted.
“The government is building additional industrial parks across the country to create numerous jobs and thereby transform the agrarian economy to manufacturing. The target is to increase the number of industrial parks to 30 and become Africa’s manufacturing hub as well as join middle income economy by 2025.”
He stated that giant firms such as Isuzu Motors, NEC, and others keen to invest in the country.
The Ethiopian Herald, May 30/2019
BY TSEGAYE TILAHUN
