(3 minutes read)
Bole Lemi Industrial Park of Ethiopia is very much in the news for its contribution towards import substitution. The industrial park has saved Birr 2 billion by producing goods that substituted imported products
Bole Lemi Industrial Park of Ethiopia is very much in the news for its contribution towards import substitution. The industrial park has saved Birr 2 billion by producing goods that substituted imported products. A number of companies have set up their units in the park. Among them are Soufflet Malt and BGI, Chinese companies. Soufflet’s malt production has fully substituted the import of malt. BGI’s Covid-19 testing kits have saved the country from importing foreign-made testing products.
The industrial park has generated US$ 297 million since its inauguration in 2014. It has also saved the country US$ 88.3 million during the past three years.
Read Also:
https://trendsnafrica.com/ethiopia-hosted-hortiflora-expo/
https://trendsnafrica.com/ethiopia-resilient-landscapes-and-livelihoods-project/
https://trendsnafrica.com/ethiopia-and-china-sign-mou-to-establish-economic-cooperation/
The Industrial Park mainly produces apparel and textiles. Located in Addis Ababa on 172 hectares of land, the park started functioning with 20 factory sheds which were rented out to companies from India, China, and South Korea. The second phase of the park, stretching over 181 hectares of land, is currently under development. The park is also expected to contribute towards exports.
