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Industrial Parks Development Corporation of Ethiopia said that the performance of industrial parks in the country had begun showing improvement. For some time, the performance of the parks was lackluster and has been stagnating.
Industrial Parks Development Corporation of Ethiopia said that the performance of industrial parks in the country had begun showing improvement. For some time, the performance of the parks was lackluster and has been stagnating. The improvement was on account of the penetration into markets other than the United States of products manufactured in the industrial parks, In the United States, Ethiopia enjoyed duty-free access leveraging the African Growth and Opportunity Act (AGOA), which enabled free market access to African countries to the US market.
The AGOA agreement is due to expire in 2025. There are reports that the Act may be rolled over amidst the present geopolitical situation, when the US is trying to gravitate towards the African continent, more than ever before.
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In the meantime, the Ethiopian Investment Commission (EIC) is planning to attract a significant number of foreign direct investments this fiscal year. The peace agreement signed between the Ethiopian Government and TPLF would have a significant place in the attraction of foreign investors, analysts maintain.
