The Industrial Parks Development Corporation (IPDC) has announced expanded financial access for investors operating in Special Economic Zones (SEZs), a move aimed at boosting investment and enhancing competitiveness.
The reform is intended to improve service delivery and create a more enabling business environment within the zones.
A half-day consultation workshop was held to strengthen banking services and enhance coordination among investors, financial institutions, and relevant government entities operating in the SEZs.
Speaking at the event, IPDC Chief Officer for Operations and Park Management, Fitsum Ketema, said financial services in the zones had previously been limited to the Commercial Bank of Ethiopia, but are now open to all banks to improve access and competition.
He noted that the government has invested over 1.5 billion U.S. dollars in developing the zones, which have attracted investments worth billions, contributing to foreign exchange generation, job creation, and technology transfer.
Fitsum added that the initiative aims to promote broader private sector participation across manufacturing, agriculture, trade, and services, while attracting foreign direct investment and supporting the development of economic clusters.
