ADDIS ABABA – As Ethiopia continues putting utmost efforts towards achieving food security, significant investments are being boosted in agroforestry, mechanization and environmental protection, Deputy Prime Minister Temesgen Tiruneh announced.
Opening the Agricultural Investment Forum yesterday, Deputy Prime Minister Temesgen Tiruneh highlighted Ethiopia’s untapped agricultural potential, emphasizing the government’s ongoing reforms aimed at ensuring sustainable development.
“The six-year performance proves how Ethiopia’s agricultural potential can significantly impact the overall development,”the DPM said.
The country’s flagship projects have successfully boosted productivity in cereal, fishery, and livestock production, Temesgen said while underlining the need to implement further initiatives to fully exploit the sector’s potentials.
Investing in agriculture aligns with the goals of sustainable development, he said, adding the private sector and international organizations should support these initiatives since their involvement is crucial to enhancing both environmental and agricultural productivity.
Agriculture Minister Girma Amente (PhD) also highlighted the government’s efforts to expand the use of improved farming tools, soil fertilizers and seeds.
He mentioned that innovation and mechanization are key priorities to advance the agricultural sector.
Speaking at the forum, Plan and Development Minister Fitsum Assefa on her part expressed that the agricultural sector has grown at an average rate of 5.2% per annum in recent years.
The sector, which contributes one-third of the national GDP and accounts for 65% of employment, is crucial to the nation’s economy, she said.
Fitsum further emphasized the government’s legal and structural reforms designed to attract more private sector investment, including from foreign entities.
She noted that financing had been challenging the sector in which foreign investment was rare. However, she expressed optimism that the recently introduced macro-economic reform would enable agricultural investors to access financial support from both local and international creditors.
BY YESUF ENDRIS
THE ETHIOPIAN HERALD THURSDAY 15 AUGUST 2024
