Addis Ababa: Six local and foreign investors, who have signed service level agreements with the Industrial Parks Development Corporation (IPDC) and collectively invested over 160 million US dollars, have begun construction of sheds and machinery installation at the Bole Lemi Special Economic Zone (SEZ).
According to Ethiopian News Agency, these developments represent a significant step toward boosting industrial activity within the SEZ, said CEO of IPDC, Feseha Yetgesu. Witnessing the construction site, the CEO mentioned that most of the investors are in the final stages of construction and machinery installation, paving the way for production preparations. The investors, who signed agreements with the corporation in the current fiscal year and at the end of the 2016 fiscal year, are now completing the necessary groundwork to begin operations.
Once operational, these companies are expected to create over 2,000 permanent job opportunities for citizens, contributing to both economic growth and employment prospects in the area. The Bole Lemi Special Economic Zone, one of the 11 industrial parks designated as SEZs by the Ethiopian Investment Board, continues to attract significant investment. This highlights its potential to become a key hub for rapid industrial development in Ethiopia.