Industrial Parks key to transform economy, livelihoods

Industrial Parks key to transform economy livelihoodsThe aggressive development of industrial parks is a smart intervention to transform the rising Ethiopian economy and improve the livelihoods of the people, pertinent officials expressed conviction.

Industrial park development and expansion is not a single strategy to address the outstanding transformation challenges.  Rather, it is a multifaceted approach to make the country a leading manufacturing hub in Africa by 2025, Ethiopian Investment Commission Deputy Commissioner Dr. Belachew Mekuria told The Ethiopian Herald.

While Industrial Parks Development Corporation was established to regulate the construction and administration work, the parks have been located along key economic corridors and connected to ports by roads and electric-powered railway lines with close proximity to high labor force pool, he elaborated.

Dr. Belachew noted that industrial parks development has been executed taking in to account various anchored principles. 

He said: “The construction has been undertaking in the way that enables Ethiopia to have specialized industrial parks that would play greater roles in transforming the economy, raising foreign currency, developing human capacity and enhancing environmental sustainability.’’

The rationale for using the cluster approach in industrial park constructions is to enhance industrial parks supply chain and paving condition for them to exchange product and input.

Industrial Parks Development Corporation CEO, Sisay Gemechu agreed with Dr. Belachew. He said that the cluster system has been making the Corporation’s infrastructural and utility provision works cost-effective; easing the regulation and follow-ups.