Recent reforms instrumental in driving growth of manufacturing sector – Minister

Addis Ababa, September 5, 2024 (FBC) – The implementation of comprehensive and robust reforms in Ethiopia has been instrumental in driving the growth of the manufacturing sector in recent years, according to Minister of Industry Mr. Melaku Alebel.

A forum was held today in Addis Ababa, bringing together stakeholders from the country’s industrial parks, with the aim of identifying new opportunities and addressing emerging challenges.

During his opening remarks, Melaku praised the reform efforts undertaken by the government of Ethiopia, particularly in the economic sector, including the recently introduced macroeconomic reform policy.

For the Minister, improvements in logistics, power supply, and other infrastructural developments have played a crucial role in enhancing the manufacturers’ production capacity. The “Made In Ethiopia” (Ethiopia Tamrt) initiative, a national movement, has also been instrumental in further mobilizing the manufacturing sector at the national level in recent years, he affirmed.

As a result of the reforms undertaken over the past six years, basic manufacturing services have been improving, the Minister noted. Consequently, the sector has registered a remarkable 10.1 percent annual growth.

The Minister, Melaku Alebel, emphasized that the country is undergoing significant reforms in the sector, encouraging investors to seize the incredible opportunities presented.

CEO of IPDC, Fiseha Yitagesu, shared that 85 percent of the sheds in industrial parks have become operational, thanks to a significant increase in local investor engagement, which now stands at 51 percent.

Looking ahead to the next decade, the CEO expressed the ambition of transforming the industrial parks into dynamic economic zones by incorporating additional services within the next 5 to 10 years. He asserted that transforming the industrial parks into special economic zones will make them centers of urbanization by incorporating trade, manufacturing, and logistics, among others.

The forum, which brought together industry leaders and stakeholders, serves as a platform to connect with key players in the sector, explore investment opportunities, and gain valuable insights into the development activities taking place in industrial parks.