Ethiopia’s industrial growth trajectory is on track: PM Abiy Ahmed

Addis Ababa, July 4, 2024 (FBC) – In his parliamentary address, Prime Minister Abiy Ahmed reported that Ethiopia’s industry sector has shown remarkable progress, and is projected to grow by 10.1 percent this year.

Currently, 390 factories are in production, including 217 in the Tigray region. The cement industry has seen a notable 30% growth, with the Lemi Cement Factory, the largest plant in its kind, set to increase its production capacity.

On the other hand, the Premier pointed out that the government is focusing on boosting the agricultural sector through initiatives such as “Bounty of Basket,” which is enhancing the supply of agricultural products, particularly in poultry and honey production.

This year, over 24 million hectares of land will be cultivated during the “Meher” season, with intensified efforts to provide agricultural technologies and inputs to increase productivity.

“Ethiopia imports 15M quintals of soil fertilizer yearly, with high logistical costs. This year, 13M quintals were transported, 2M more en route to Djibouti. Next year, Ethiopia targets seed self-sufficiency, distributing 40,000 motor pumps to farmers for irrigation.”

Ethiopia has also made significant progress in wheat production, with the Prime Minister expressing confidence that the country is on track to achieve food self-sufficiency in the near future.