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Industrial Parks Development Corporation (IPDC) has announced that the upgrading of industrial parks to special economic zones has not only created diversified investment opportunities but also created extensive job opportunities and linkages.

The reform in the economic sector has resulted in fundamental changes in the rules and regulations, which have solved the investment sector's bottlenecks and created a favorable investment option for international investors, said Ato Zemen Junedi, Deputy Executive Director of the IPDC.

Ato Zemen Junedi, who stated that out of the 177 special economic zones, 150 have been occupied by local and foreign investors, also announced that special economic zones in Jimma, Bahir Dar and Hawassa are attracting new investments.

He also said that the new concept of logistics and trade launched in the Dire Dawa Free Trade Zone has made a significant contribution to facilitating diversified investment.

He also indicated that the Bole, Mina and Adama Special Economic Zones are now fully occupied by local and international investors.

The Deputy Head, who stated that more than 80 new investments have entered the Special Economic Zones in the past nine months; 17 sheds of different sizes and types are being taken and put into operation, and machinery is being installed. 

He also indicated that more than 85 thousand farmers have been created in all economic zones.

It is known that out of the 13 industrial parks and the Dire Dawa Free Trade Zone managed by the Industrial Parks Development Corporation, ten have been upgraded to Special Economic Zones.

By Haymanot Kebede