The Industrial Parks Development Corporation (IPDC) states the government invested $1.5 billion over the past 10 years to develop industrial parks and infrastructure. Fitsum Ketema, Deputy CEO, shared this at a forum on financial institutions' role in Special Economic Zones (SEZs).
The Industrial Parks Development Corporation (IPDC) reports that the Ethiopian government has invested $1.5 billion over the past 10 years to develop industrial parks and meet infrastructure needs. Fitsum Ketema, Deputy CEO, addressed this at a discussion forum organized to increase financial institutions' participation in Special Economic Zones (SEZs). He stated that the government allocated substantial capital, prioritizing construction and infrastructure for industrial parks. IPDC now manages 14 SEZs and industrial parks, accommodating more than 250 domestic and foreign investors. Over 60% of these investors are domestic. Ketema stressed that local investors need significant financial support alongside infrastructure, urging banks to focus on the sector and assist investors. He added that banking services, once limited to one bank, are now provided by all commercial banks in the SEZs.
