Addis Ababa: The policy direction and the massive economic reform undertaken by the Government of Ethiopia has been instrumental in positioning the country among the biggest economies in Africa, AUDA-NEPAD Economy, Infrastructure, Industrialization, Trade, and Regional Integration Director Amine Idriss Adoum said.
According to Ethiopian News Agency, the director noted in an exclusive interview that Ethiopia is among the top 10 biggest economies in Africa. Ethiopia’s recent economic achievement is the result of policy direction, massive investment in industrialization, and infrastructure. Implementation of the government’s policy by investing heavily in improving agricultural output and performance, increasing skills, competencies, and capacity of farmers during the last years have been instrumental in registering success.
Highlighting the investment in industrialization, especially in economic zones, Amine Idriss Adoum noted that the garment industry has been important. Investment in infrastructures, which includes energy, energy sovereignty, and transportation, needs to move into a more sustainable and green economy. He stated that the government is making efforts to green the economy, greening the transportation, and ensuring that the industrial sector itself becomes clean and green agriculture.
Regarding the opening up of the economy, Amine Idriss Adoum said it is important to allow foreign investors in sectors traditionally led by national domestic investment. The government’s move in this respect is essential as it would make Ethiopia a part of the global market. Moving away from a government-led economy and toward a more private sector-led economy controlled by the government in terms of policy direction is crucial, the regional director underscored.
Amine Idriss Adoum emphasized the need to balance between the private sector running the economy and the government giving direction because that is the only way to reduce poverty. Businesses in Ethiopia will start to see more competition, he elaborated, adding that this will push them to be more competent and productive, which is important.