The Amhara Industry and Trade Development office has announced that three industrial parks have reached a completion rate of 87%. The Office spent over 368 million Br on the project. The Parks are constructed at three different locations in the Amhara Region – namely, Debre Berhan, Gondar and Bahir Dar.
The Parks are said to be ready to start operations this month. The industrial sheds are built on 5,000 sqm of land, and will be utilise by companies operating in the leather and leather products sector, as well as other clothing factories.
The Office built these parks to encourage investment in the region by doing half the work, so that investors would only be expected to install their machinery, sparing them from extra expenses.
The Office plans to give priority to investors and businesses that can provide employment to 500-1,000 employees and to those that plan to export 60pc of their products to foreign markets.
The Development Bureau added that there is sufficient infrastructure at the above locations – including electricity, roads and water infrastructure – to make the industrial parks well prepared to welcome investors.
There are plans for an independently organised institution to oversee the administration of the Parks.
The Government is planning strategies to raise the share of GDP of the industrial sector from 13pc to 27pc by 2025.
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