Centering the tanning industry, Ethiopian government is trying to turn in both external and internal investments for its industries. Ethiopia, under its Growth and Transformation Plan document has reportedly targeted to reach 4 billion dollars in Foreign Development Investment (FDI) this financial year.
With direct plans of increasing the number of industrial parks, Ethiopian government has been putting efforts to turn in major investments and proving a growth spurt to their economy via their industries providing both employment and economic benefits to its people. As an effort to empower manufacture and shipping, Ethiopian government has set up a number of industrial parks in 2018.
Ethiopian Investment Commission states that Ethiopia wants its manufacturing industry to provide 20 percent of the country’s GDP, while its exports to provide for 50 percent of the GDP by 2015. Although the task seems daunting for the government, they have allocated funds and are ready to help industries in their growth to provide for the country’s growth.
Government is also helping companies with technology, in developing various projects and in educational ventures, hence taking care of the country’s children. This has widened the scope for FDI, setting the future of the county at a high position.
The industrial parks are meant to be eco-friendly being at par with all environmental standards and dedicated to certain sectors like the leather and leather products industry, textile industry, agro-processing and pharmaceuticals.
In a nutshell, Ethiopia is all set to launch itself into a brighter economy.