Ethiopian Informer
ADDIS ABABA (EI): The Ethiopian government has announced “notable achievements” in reviving the country’s manufacturing industry sector as part of the national “Made in Ethiopia” Initiative.
The Ethiopian government disclosed, in a report issued by state-broadcaster on Sunday, that the initiative is “significantly reshaping the nation’s manufacturing sector,” invigorating local production, meaningfully addressing the country’s reliance on imports, while also generating employment opportunities as part of the target set for the year 2032.
The Made in Ethiopia Initiative, which was initiated by Prime Minister Abiy Ahmed back in 2022, is credited with saving over 3 billion USD in foreign exchange by substituting imported goods with locally manufactured alternatives, according to the report.
In terms of exports, the report indicated that the initiative has already recorded 204 million USD earning in revenue from the export of industry products during the first eight months of this fiscal year.
According to the Ethiopian government, the Made in Ethiopia Initiative’s “notable progress” also helped to successfully revive over 625 industries that had previously terminated production; while the overall production capacity within Ethiopia’s manufacturing industry sector has registered a 15 percent increase, rising from 46 percent to 61 percent.
Photo Credit: New America online portal
