Ethiopia's Manufacturing Sector Experiences Growth in Production Capacity and Employment Opportunities
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Addis Ababa, Dec 27 (NationPress) The Ethiopian government announced that new measures to address the obstacles in the nation's manufacturing sector have greatly improved its production capabilities and potential for job creation.
Ethiopia's Industry Minister Melaku Alebel stated that various initiatives and strategies have led to a significant rise in the manufacturing sector's production capacity, which has rebounded from around 46 percent to 60 percent of the nation's total capacity in recent years, as reported by the state-run Ethiopian News Agency and quoted by Xinhua.
The minister further emphasized that these initiatives have substantially boosted the sector's annual employment generation capability, with the manufacturing industry now accounting for over 156,000 jobs, a remarkable increase from prior years.
Historically, Ethiopia's domestic market has relied heavily on imported products; however, Alebel pointed out that advancements in the manufacturing sector have raised the proportion of locally-produced goods from 30 percent to 40 percent over the last few years.
Over the past decade, this East African nation has been actively developing numerous industrial parks nationwide, aspiring to become Africa's manufacturing hub. A considerable number of foreign investors have expressed interest in participating in the country's manufacturing landscape.
Recent statistics from the Ethiopian Industrial Parks Development Corporation indicate that investments from China have played a pivotal role in the growth of Ethiopia's manufacturing sector, with Chinese investors currently forming the largest foreign investor group in the country's industrial parks.
In an October statement, the Ethiopian Investment Commission highlighted the vital contributions of Chinese investors in strengthening Ethiopia's economic development by injecting significant capital and creating job opportunities.
It noted that around 3,309 Chinese projects have invested over 8.5 billion US dollars in Ethiopia in recent years, making substantial contributions to the country’s socioeconomic objectives. These investments have also resulted in the creation of more than 325,400 permanent and temporary jobs for Ethiopians.
