General Manager of Ethiopia’s flagship Hawassa Industrial Park, Fistum Ketema announced on Tuesday that it secured $114 million from the export of face masks to international markets.
Ketema briefed newsmen that the concluded Ethiopian budget year was a difficult year for the sector due to the global COVID-19 pandemic.
He added that the sector has shown impressive results as the government made efforts to help manufacturing companies cope with the pressure by providing various incentives.
The $114 million earned was obtained from exports to Europe and US markets. The Hawassa Industrial Park which was built by China Civil Engineering Construction Corporation (CCECC) has created jobs for more than 35,000 people in the area.
He said the park was able to transform the challenge into an opportunity by producing masks and other products that can be used to prevent COVID-19.
Although 20 foreign firms had secured investment productions site lands at the park and started production, Ketema said the involvement of local content and local investors is now on the increase, with three local investors taking the lead.
As part of its efforts to make the country a light manufacturing hub and lower-middle-income economy by 2025, the Ethiopian government projects a $1 billion in annual revenue from the park once it starts operations at its full potential. It plans to construct and commission a total of 30 industrial parks within the same period.