Domestic investors in Ethiopia face significant challenges as shed rental prices in industrial parks have doubled. This sharp increase creates financial strain for those who depend on foreign currency for their payments.
Investors report that the average shed rental prices per square meter of land in industrial parks have jumped from $2.75 to $5.50 due to changes in the foreign exchange market. As a result, many investors now pay rent that has increased from 100,000 birr to 200,000 birr. This drastic rise makes it increasingly difficult for companies to hire staff, import necessary raw materials, and maintain their operations.
Dr. Fiseha Yitagesu, the director of the Industrial Parks Development Corporation, acknowledges the financial pressure that these unexpected changes place on investors. He states that they are forming a committee to explore potential solutions and facilitate discussions aimed at alleviating these challenges.
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