The planned industry zones to be turned to special economy zones

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The industry minister told the parliament that it is working to turn the planned industry zones located at four cities around the country to special economy zones.

As the minister of industry Ahmed Abetew told the House of Peoples’ Representatives on Tuesday, while he was presenting the ten months report, the challenge of establishing an economy zone is a comparable one to founding a city. He also said that for this complicated and very expensive effort, efforts are underway to acquire foreign finance. The minister told the parliament that a 250 million dollar loan is obtained from the World Bank last week for these projects.

The finance from this loan is said to be used for the development of the bole lemi and kilinto economy zones that are located at 400 hectares of land around Addis Ababa. The other planned industrial zones that are planned to be turned to special economy zones are situated at the Hawassa, Dire Dawa and Kombolcha cities. He also said on his report that agreements are secured with the Chinese government to finance the economy zone at the Dire Dawa city.