Gov’t to continue providing support to manufacturing sector: House Speaker

Addis Ababa, December 14, 2023 (FBC) – The government will continue providing support for the manufacturing sector to thrive, Speaker of the FDRE House of Peoples’ Representative (HPR) Tagesse Chafo said.

A five-day manufacturing exhibition and bazaar kicked off today at Skylight Hotel today under the theme “Let Ethiopia Produce and Let Us Buy” to promote domestic products and import substitution.

In his opening remark, Speaker of the House of Peoples’ Representatives, Tagesse Chafo said that it is essential to unleash the abundant potential of the country.

The government has given due attention to the manufacturing enterprises, he said, adding the sector has shown tangible results, substituting imported items and earning foreign currency.

Industry Minister, Melaku Alebel said that the export performance of the manufacturing sector stands at 400 million USD per annum and it is expected to rise to 9 billion US dollar by the end of Ten-year Development Plan, ENA reported.

In addition, the sector will create new jobs to about 5 million persons, he said and added that strategies are in place to further expand the encouraging results attained in import substitution.

According to the minister, availing access to finance, provision of various manufacturing inputs, and improving the infrastructure facilities such as electricity and logistics are required to boost the productivity and competitiveness of the sector.

The “Let Ethiopia Produce” (MadeInEthiopia) movement has enabled some 370 manufacturers to boost their products and productivity, Melaku pointed out.

In the exhibition and bazaar, which over 85 manufacturing enterprises are participating, is expected to attract over 50,000 visitors, it was learned.