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Africa - Ethiopia’s industrial parks to receive US$175 million World Bank boost
2018/7/10 9:10:13 Source: Author: 点击率:

The World Bank is to support the government with an additional US$175 million in credit. It said the money will support government efforts to create more jobs by attracting investment and improving the competitiveness of enterprises operating in the African country’s industrial parks.

“Ethiopia has been successful in attracting foreign direct investment in light manufacturing,” the World Bank said, “in leather, garment and textile production, and in agro-processing sectors, by leveraging its relatively low labour costs, competitive energy costs and preferential market access to the European Union and US.”

It said that, in 2016, Ethiopia received one of the highest foreign direct investment inflows in Africa, reaching $3.2 billion.

Adding her comments, the World Bank’s country director for Ethiopia, Sudan and South Sudan, Carolyn Turk, said: “This project is of strategic importance for Ethiopia as it is supporting the government’s industrialisation agenda, providing quality industrial infrastructure for manufacturing in key sectors and facilitating stronger economic ties between the industrial parks and the local economy.” Information courtesy of Leatherbiz

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