A 150-hectare Free Trade Zone (FTZ) has started operating in the Ethiopian city of Dire Dawa. This is reported by
ENA, a partner of TV BRICS.
Dire Dawa has become the first FTZ in the country among industrial parks. According to the news agency, the territory can be further expanded to 4 thousand hectares. A number of companies are already selling their products in the new free trade zone.
The Ethiopian Investment Commission also reiterated its commitment to facilitate the activities of investors in the FTZ.
It is noted that the objective of the zone is to reduce inflation, increase economic activity and employment opportunities, attract foreign direct investment, strengthen Ethiopia’s global competitiveness, and transform the republic into an industrial centre of Africa.
A Free Trade Zone is a special territory where trade is conducted with minimal customs duties, restrictions and administrative barriers.
Photo:
iStock
