The Industrial Parks Development Corporation (IPDC) reported that it had attracted USD 300 million in investments and generated over USD 26 million in export revenue in the first quarter of the 2024/25 fiscal year.

According to IPDC’s Deputy Chief Executive Officer for Investment Promotion and Marketing, Zemen Junedi, 45 new investors have committed to ventures within the industrial parks and the Dire Dawa Free Trade Zone. The corporation has facilitated this growth by providing investors with access to various sheds and cultivated land, which have already been handed over for development.

Foreign Direct Investment (FDI) remains robust, with substantial contributions from China, Japan, and Vietnam, underscoring Ethiopia’s international investment appeal.

Kamil Ibrahim, Deputy CEO of IPDC’s Operations Division, reported that the USD 26 million in export revenue was achieved primarily through the activities of Jimma and Bole Lemi Industrial Parks, both of which led in export performance over the quarter.

Source: Ethiopian News Agency