Addis Ababa: Ethiopia has emerged as a prime destination for foreign direct investment (FDI) with the introduction of Industrial Parks since 2008 and adoption of the Special Economic Zones (SEZ), according to Ethiopian Investment Commission. The introduction of the SEZ legislation marks a significant shift in Ethiopia’s economic policy, offering a structured framework for establishing, operating, and governing SEZs.
According to Ethiopian News Agency, the zones include industrial parks, free trade zones, science and technology parks, service parks, and agriculture and livestock zones, providing a diverse investment landscape, the commission revealed. Key incentives for investors include tax and customs incentives, streamlined business environment, and infrastructure development, it added.
With effective implementation, Ethiopia’s SEZs are poised to attract significant FDI, enhance global trade competitiveness, and drive sustainable economic growth, EIC stated. Accordingly, Ethiopia invites foreign investors to leverage its SEZs, offering a competitive environment with streamlined trade facilitation and robust infrastructure.
For the commission, by investing in these zones, FDIs can capitalize on Ethiopia’s strategic location, growing market, and favorable business climate. The commission added that it is ready to guide investors through the process, ensuring a seamless entry into the market.