Addis Ababa: Prime Minister Abiy Ahmed said the industrial sector has been registering remarkable results in the just ending Ethiopian Fiscal Year.
Responding to queries raised by members of the House of People’s Representatives on various national issues, including economic and social matters, he noted that ‘this year the most successful sector was the industry sector.’
There has been a great success in the manufacturing sector this year due to measures taken by the government, including the Made in Ethiopia movement, the premier added.
Ethiopia’s national movement has been carried out since 2022 across the country with the objective of boosting competitiveness thus playing a significant role in harnessing the existing potential of the industry.
According to him, the sector is expected to grow by 10.1 percent.
The Made in Ethiopia movement, as part of the 10-year development plan for the industrial sector, anticipates addressing the challenges that producers at all levels confront and creating a favorab
le business environment in manufacturing.
Since 2022 the movement has been registering remarkable accomplishments in encouraging import substitution, promoting export and contributing to expand production and productivity, Abiy elaborated.
It was revealed that some 390 factories have become operational and enhanced employment, export and import substitution.
Further recalling that the shortage of cement last fiscal year, the prime minister said the nation has this year increased production capacity of cement by 30 percent, using the existing cement factories.
The new Lemi National Cement Factory will be inaugurated soon and that will cover 50 percent of the current national demand of cement.
The PM added that free trade zones are attracting investment, besides the industrial parks prepared for manufacturers.
Source: Ethiopian News Agency