Hawassa Industrial Park saved over USD 13.9 million in the 2023/24 fiscal year by replacing imported products with locally manufactured goods, according to the park’s General Manager, Mathews Ashenafi.
Since 2020, the park has replaced more than USD 33.7 million worth of imports. Additionally, the park reported USD 44.2 million in export earnings for 2023/24, contributing to a total of USD 436.3 million in exports over the past five years.
The park also facilitated market connections worth USD 602,000 and created over 11,600 jobs in 2016 alone. Since its establishment in 2019, Hawassa Industrial Park has generated employment for more than 82,500 people.
Ethiopia’s industrial sector grew by 10% in 2023/24 fiscal year, with the government aiming to increase this growth to 12% in the current fiscal year. Plans are underway to raise the textile industry’s production capacity from 64% to 75%. The minister emphasized that macroeconomic reforms and stronger linkages between producers are essential to enhancing the performance of industrial parks.
Source: Addis Zemen
Image source: IPDC
