Two industrial parks to become operational in Ethiopia

29 Jun '17

2 min read

Mekele and Kombolcha industrial parks in Ethiopia will become operational soon. The Ethiopian Investment Commission (EIC) has replicated the plan of Hawassa industrial park in these new parks. Many big international textile and apparel brands have invested in Hawassa. Investments are expected to increase with the functioning of the new industrial parks.

So far, 18 companies have initiated operations in the Chinese built Hawassa industrial park. Development of industrial parks will boost the manufacturing sector, increasing the country's gross domestic product, according to Prime Minister Hailemariam Desalegn.

PVH, company marketing portfolio of various brands including Calvin Klein and Tommy Hilfiger has already established its first manufacturing unit in Hawassa industrial park, according to Chinese news agency.

Hawassa Industrial Park is a basis for the country's objective to become the manufacturing hub of Africa, said Desalegn at the park's official operation commencement ceremony. He further added that favourable environment in the country will attract large number of foreign investors.

EIC is likely to approach Vanity Fair and H&M for establishing their units in these two parks. Over one billion US dollars has been sanctioned for the for the construction of industrial parks in the second five-year Growth and Transformation Plan (GTP-II) period, effective from 2015 to 2020. (RR)

Fibre2Fashion News Desk – India

More Textiles News - Ethiopia...