IPs generate 122 mln USD
ADDIS ABABA-The government has availed three major incentives for investors operating inside Industrial Parks amid Covid-19 with a view to easing the impact the pandemic imposes on the investment sector, Industrial Parks Development Corporation (IPDC) announced.
IPDC Communication Head, Derbie Debele, told The Ethiopian Herald that the government introduces three major incentives as part of the effort to promote investment and ease Covid-19 impact on the investment sector.
The first incentive targets at encouraging investors with no order from abroad for the past two months and those who lost procurement agreement from their clients abroad. They are allowed to sell their products within the local market.
Secondly, the free transport of goods from Modjo dry port up to Djibouti port is available for all IPs investors. Third, a six months discount cargo service is offered for the Ethiopian Airline cargo services customers.
"Apart from providing investors with a range of initiative to promote the export sector, the IPDC has been implementing various measures in coordination with the Ministry of transport to resolve investors' continuous logistics complains," he stressed.
Currently, different IPs are actively engaging in producing face masks aimed at fulfilling local demand and there is a plan to supply masks for African countries soon. Hawassa IP is producing more than 50,000 facemasks daily, he said adding that as all the IPs products are export standard, the IPs have been exporting products to different countries through an order.
Availing infrastructural facilities were the major focus areas of the IPDC during the budget year, according to him. The IPs generate 122 million USD within the past nine months of the budget year. It shows a 32 percent increment from the past budget year similar period. It achieved over 75 percent, he indicated.
Accordingly, the government has been taking various measures to promote investment in the country. The IPDC has over 70,000 employees. The construction of IPs in different parts of the country, directly or indirectly contributes much more to urbanization and job creation schemes.