Kombolcha Industrial Park revealed its plan to further boost exports of textile products as international manufacturing companies pledged to intensify their output inside the premises of the park.

 

With the growing production of export-bound textile products by the foreign firms operating inside the industry park, the monthly foreign exchange earned from the shipments of products has also reached close to a million dollar in July 2019.

 

Ahmed Seid, General Manager of the Kombolcha Industrial Park, said that the foreign textile producing companies are now undertaking their operations inside the industry park, in which a South Korean firm Pungkook Ethiopia Bag Manufacturing Company was the first enterprise to commence the export of good from the industry park in June last year.

 

The South Korean firm, which was also the first company to start its operations inside the Kombolcha industrial park, has been also joined by other manufacturing firms.

 

The park currently hosts nine international standard factory sheds that have been transferred to six international companies - 3 Chinese, 2 South Korean and 1 Italian - that are specialized in manufacturing export-oriented textile and garment products, according to Ahmed.

 

The industrial park was built by China Civil Engineering Construction Corporation (CCECC) with a contract amount of USD94 million.

 

Ever since the inauguration of the park in July 2017, ithas created close to 2,000 job opportunities.This is expected to reach 20,000 when planned expansion projects completed.

 

The Ethiopian government’s future expansion ambition inside the Kombolcha IP also includes second phase construction plan, which is expected to embrace other zonal areas, including Dessie town.

 

The industrial park, located in less than 480-km from the Djibouti port, is advantageous for companies and investors in leveraging their quest to easily access port.

 

Tuesday, 17 September 2019 06:36
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On August 28, 2019, the Ministry of Finance, in a grand ceremony held at the Sheraton Addis, announced the blue print of the ‘Home Grown Economic Reform Agenda’, aiming at correcting macroeconomic woes. The Agenda outlines macroeconomic, structural and sectoral reforms that will pave the way for improved job creation, poverty reduction, and inclusive growth, according to Eyob Tekalign (PhD), State Minister of Finance (Left).

Monday, 16 September 2019 00:00
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By Ermias Mulugeta

Chinese textile products manufacturer, Sunshine Ethiopia Wool Manufacturing Company, is set to increase its investment portfolio in Ethiopia to USD980 million.
The Chinese textile firm, which has been active in the premises of the Adama Industrial Park since 2016 with a registered investment capital of 350 million US dollar, disclosed its plan to further increase its investment capital in Ethiopia in two phases.

Tuesday, 16 July 2019 09:00
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