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Ethiopia export revenue hits 100 mln USD from Chinese-built industrial parks

(Xinhua) — Ethiopia earned 100 million U.S. dollars export revenues in the Ethiopian Fiscal Year 2017/18 that ended July 7 from goods produced in six Chinese-built industrial parks, an Ethiopian official said Thursday.

Speaking to Xinhua, Mekuria Belachew, commissioner of the Ethiopia Investment Commission, said the six industrial parks currently employing 55,000 people have earned the country much-needed hard currency during the last fiscal year.

The six industrial parks are Kombolcha, Mekelle, Eastern, Huajian, Hawassa and Modjo Industrial Parks.

“Despite insufficient provision of basic services like water and electricity, unrest in several parts of the country and foreign currency shortage, Ethiopia is still attracting investment into its six operational industrial parks from its largest trading partner China,” said Belachew.

The commissioner also said Ethiopian Prime Minister Abiy Ahmed who will make his first state visit to China during the Forum on China-Africa (FOCAC) Cooperation next week is expected to lobby Chinese firms to invest in Ethiopia’s budding agro-industrial and pharmaceutical sectors.

Ethiopia hopes to replicate China’s successful experience in industrial parks to help succeed in its economic plan of becoming a middle income industrialized nation by 2025. Enditem

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