Industrial development is the center of Ethiopia’s economic policy as identified by the 10-year Perspective Development Plan and the Homegrown Reform Agenda, Industry State Minister Tarekegn Bululta said.
Addressing the UNDP Annual Development Conference 2023 today, the state minister noted that the manufacturing sub-sector is in particular one of the key priority areas given special attention.
Accordingly, huge investments in industrial parks, integrated industrial clusters, and infrastructure development have been made.
He further stated that the development of labor-intensive light manufacturing industries is one of the main strategies adopted to create jobs for the growing youth population and generate foreign exchange through promoting export competitiveness and technology transfer.
Tarekegn pointed out that the local market with more than 120 million people, abundant labor force, effective airlines, and industrial parks are among the key factors that would make Ethiopia a center for manufacturing.
The United Nations Development Program Resident Representative, Charu Bist said the manufacturing sub-sector has been a focal point for Ethiopia with several interventions, including the establishment of industrial and agro-industrial parks, over the past 20 years.
Manufacturing has the potential to contribute to the country’s structural transformation, generate foreign exchange, create jobs for the millions of youth who enter the labor market every year, promote local SMEs, and produce for export and import substitution, she added.
Organized to tackle the theme “Can Ethiopia become a manufacturing powerhouse?” the annual development conference showcased analytics and findings published in the latest UNDP working paper.
According to the working paper’s findings, Ethiopia has considerable potential to become a manufacturing power, export 10 billion USD by 2030, and create many thousands of jobs.
The working paper also emphasized the importance of invigorating the public-private dialogue, deepening the country’s economic growth and development, leading structural change, and creating quality jobs.
The UNDP Annual Development Conference was launched in 2022 to provoke thoughts and dialogue on key issues of development relevance for Ethiopia and showcase UNDP’s latest analytical works.
Source: FBC
