Addis Ababa: The robust reform being executed by the government in recent years has been critical for the surge of the manufacturing sector, Minister of Industry Melaku Alebel said.
A forum which brought together the country’s industrial parks stakeholders, held today in Addis Ababa with the target to identify new opportunities and tackle emerging challenges.
In his Opening remarks, Melaku commended the reform activities being undertaken by the government of Ethiopia particularly in the economic sector, including the recently macroeconomic reform policy that is under implementation.
For the Minister, improvements carried out in logistics, power supply and other infrastructural developments have been pivotal to enhance the manufacturers’ production capacity.
Ethiopia Tamirt, a national movement has been also instrumental to further mobilizing the manufacturing sector at the national level in recent years, he affirmed.
So, basic manufacturing services have been improving following the reforms undertaken f
or the past six years, the Minister noted.
Accordingly, the sector registers 10.1 percent annual growth as a result of the reform.
Stating that the country is making major reforms in the sector, Melaku urged investors to benefit from such incredible opportunities.
The forum is a good opportunity to identify the opportunities and challenges, he said, adding it aims also to utilizing opportunities and resolving challenges together.
Addressing the forum, CEO of IPDC Fiseha Yitagesu said on his part, 85 percent of the shed in industrial parks have become operational as the engagement of local investors has risen to 51 percent.
Speaking on the ambition of the coming 10 years, the CEO said the vision is transforming the industrial parks into dynamic economic zones by incorporating additional services in the coming 5 to 10 years.
Transforming the industrial parks into special economic zones will make them centers of urbanization by incorporating trade, manufacturing, logistics, among others, he affirmed.
The
forum is believed to be an opportunity to connect with industry leaders, explore investment prospects, and gain insights into key development activities in industrial parks.
Source: Ethiopian News Agency