Ethiopia Plans Export Hubs with $10 Billion Factory Parks

Ethiopia is targeting $1 billion of annual investment in industrial parks over the next decade to boost exports and make it Africa’s top manufacturer, a special adviser to Prime Minister HailemariamDesalegn said.

The government may invest half of the $10 billion needed for zones across the country that will house textile, leather, agro-processing and other labor-intensive factories, ArkebeOqubay said in an interview in the capital, Addis Ababa. The International Finance Corp., the World Bank’s private lending arm, along with Chinese and European lenders and private-equity funds are interested in projects, he said.

“In terms of industrial development and manufacturing development, we want to put Ethiopia number one in Africa,” Arkebe said in Addis Ababa.


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