Recently, the Ethiopian Investment Commission has prepared a draft industrial parks regulation and tabled it for discussion, which enables investors to get access to a one-stop shop service at industrial parks. The commission aims at expanding industrial parks, accelerating the growth of the manufacturing sector and supplying superior quality infrastructures at the parks.
The draft regulation, which is expected to be endorsed by the Council of Ministers within a month, will let investors focus only on production alone as well as to acquire favorable and cost-effective banking, customs, labor and social affairs, telecom and other related services within the park.
The regulation would also bring together government service delivery institutions scattered at various locations so that they can conveniently serve investors. It will also assist them to carry off and develop industrial parks, establish monitoring systems, and ensure the responsibility and accountability of individuals or companies working in the industrial parks.
Certainly, the development of industrial parks is crucial to speed up the economic growth of the country through promoting and attracting investors as well as creating job opportunities. Recognizing the fact, the nation plans to build 10 industrial parks in the Second Growth and Transformation Plan (GTP-II).
Currently, more than ten industrial parks are on operational while other 10 parks are being built in various parts of the nation in a bid to transform its agriculture based economy into manufacturing one by 2025.