Ethiopia: Construction of 4 Industrial Parks to be Launched Soon - Ministry
Posted on :Tuesday , 3rd January 2017
The Ministry of Industry announced that the construction of four agro- industrial parks projects would be launched soon in Tigray, Amhara, Oromia and SNNP States.
Speaking at stakeholders' consultative meeting on the implementation and resource mobilization for agro-industrial parks expansion project here Friday, Integrated Agro- Industrial Parks Project Marketing and Economic Analyst Moges Mesfin said the project is part of the national vision to become light manufacturing hub in Africa.
The agro-industrial parks would be feasible owing to the commitment of the government, financial institutions readiness and the country's successive economic growth.
State Minister Dr. Mebrahtu Meles said the country is constructing industrial parks to promote investment and tap its economic potential.
The construction would be financed by the federal and state governments. Accordingly, the Development Bank of Ethiopia has allocated seven billion Birr, Bank Vice President Tadesse Hatiya told The Ethiopian Herald. "The bank would increase its budget allocation as the construction progresses."
The country has set ambitious plan to build some 17 industrial parks in all states which would enable to add value to its agri-produce.
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