ETHIOPIA has earned $610 million from Chinese built industrial parks, the Ethiopia Industrial Park Development Corporation (EIPDC) disclosed on Sunday.
Behailu Kebede, Marketing and Communications Department Chief at EIPDC, said the $610 million export revenue was earned from 13 Chinese built industrial parks.
Kebede added that the 13 industrial parks have created job opportunities for more than 89,000 Ethiopians, reported state broadcaster Ethiopia Broadcasting Corporation (EBC).
‘The textiles and other export related products produced by industrial parks have garnered good reviews by European and North American customers,’ Kebede said.
Ethiopia currently has 13 operational industrial parks, with several more under-construction expected to be commissioned during the current Ethiopian Fiscal Year 2020/2021.
In recent years, Ethiopia has embarked on industrial parks’ construction and commissioning activities, as part of a broad economic strategy to make the country a light manufacturing hub in Africa by 2025.
The Ethiopian government has attached great importance to cooperation with Chinese firms in various fields.
These include the construction of industrial parks along with giant Chinese firms investing in various industrial hubs, the majority of which were built with Chinese expertise and finance.