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The strategy of mobilising capital from foreign investors through setting up effective industrial parks has been adopted as government economic policy for some time. It was formally introduced as part of Ethiopia’s first Growth and Transformation Plan I. Fostering industrialization was also one of the development priorities under GTP-II, (2016-2020). The Ethiopia 2030: The Pathway to Prosperity – Ten Years Perspective Development Plan (2021 – 2030) targets an annual growth rate of 13 percent over the ten years with the manufacturing sub-sector constituting 20 percent. The Ethiopian Industrial Development Strategic Plan (2013-2025) also provides a policy direction to establish an industrial zone development program. The Strategic Plan focuses on the development of integrated economic development zones that build and develop industrial parks, business centres, as well as residential areas for employees.
9 May 24
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As part of these strategic growth plans for economic development and industrialisation, the Government embarked on a program to develop industrial parks backed by incentives such as tax exemptions, one-stop government services, and regulatory concessions, in several manufacturing sectors including textile, garment, leather, light and heavy industry, agro-processing, and pharmaceuticals.
This legal alert highlights the key elements of the new SEZ Proclamation. Click here to download and read the full alert.
Should you have any questions on this legal alert, please do not hesitate to contact Mesfin Tafesse.