Addis Ababa: A plastic formwork factory that saves over 15 million USD annually by manufacturing products locally was inaugurated today. The factory, built with over 1 billion Birr, was officially opened by Industry Minister Melaku Alebel, highlighting the government’s commitment to prioritize the manufacturing sector by enhancing policy and legal frameworks and implementing strategic measures.
According to Ethiopian News Agency, the government’s initiatives are directed towards establishing a robust economic foundation by optimizing production and productivity. This involves providing comprehensive assistance and ongoing monitoring to ensure the growth and sustainability of the sector. The minister emphasized the importance of investing in and supporting domestic industries to produce alternatives to imports. This strategy is seen as crucial for developing a strong, competitive industry capable of supplying international markets.