World Bank Affirms Continued Partnership with Ethiopia in Industrial Park Dev’t Activities

The World Bank (WB) will continue its partnership with Ethiopia and appreciates the effort to transform the country from agriculture to industrialization, Bank Financial Competitiveness and Innovation Global Practice Manager said.

In an exclusive interview with ENA, World Bank Practice Manager Alwaleed Fareed pointed out that WB has an active program in Ethiopia and will continue to partner with the country.

Speaking on the side lines of the official conclusion of Competitiveness and Job Creation Project ( CJC) program ceremony, he said that the CJC program was carried out by his team in partnership with the Industrial Park Development Corporation.

The CJC project implemented in the past eight years costed 425 million USD, it was learned.

According to him, with their current capacity and the availability of facilities industrial parks can attract more investors in which more job opportunities could be created.

In particular, the manager mentioned that industrial park at Bole Lemi with training facility which helps to develop skills for those moving from agriculture to manufacturing sectors.

For a country in development path it is very important to evolve from agriculture to industry and then grow at faster pace because the value addition in industries is much higher in many ways, he stressed.

Fareed further stated that the industrial parks established in Ethiopia will be able to attract FDI and create jobs, but more importantly can boost export which contributes to the whole economy; and Ethiopia could be integrated into the global economy as a major trading partner.

Therefore, the manager noted that the key in all of this was twofold. One is to create quality jobs for those moving from agriculture to industry; but more importantly it is really the growth agenda and see how and what Ethiopia has produced in the industrial parks for export, he elaborated.

The manager believes that all the activities and reforms carried out by the government would allow Ethiopia to be more competitive and this will help to attract be more foreign investors to come and invest in Ethiopia.

Fareed noted that WB has an active program in Ethiopia and carries out a lot in financial related aspects because we know that this is an area that we can do more in the case of Ethiopia to make it more competitive economy.

Source: Ethiopian News Agency