Ministry sets sights to collect $562mln income from manufacturing sector

Addis Ababa, November 16, 2022 (FBC) – The Ethiopian Ministry of Industry announced that efforts are being made to collect 562 million USD from the manufacturing sector.

According to the Minister of Industry, Melaku Alebel, the Ministry will focus on collecting better foreign exchange in the sector by filling the gap of value adding to exports.

He also mentioned that textiles industries take greater share of manufacturing export products among other industries in Ethiopian Industrial Parks.

The Minster also indicated that the foreign investment has shown encouraging improvement since COVID-19 pandemic and the conflict.

According to Melaku, these investments have not only brought in foreign currency, but also a significant transfer of knowledge to the country.