ADDIS ABABA:- Ethiopia has made significant strides under the “Let Ethiopia Produce” initiative, bolstering the manufacturing sector and promoting export trade, according to Deputy Prime Minister (DPM) Temesgen Tiruneh.
Speaking at a recent event honoring prominent investors, Temesgen emphasized the country’s achievements in manufacturing despite facing internal and external pressures in recent years. He acknowledged that Ethiopia had turned these challenges into opportunities through proactive policies and initiatives.
The Deputy Premier noted that the “Let Ethiopia Produce” initiative has been instrumental in enhancing multi-sectoral competitiveness, promoting import substitution, boosting export trade, and creating decent jobs for many citizens across the country.
He reaffirmed the government’s ongoing support for the manufacturing sector as a critical driver of economic growth and underscored the importance of continuing efforts through initiatives like “Let Ethiopia Produce, Consume, and Export.” He stressed that while achievements are commendable, there should be no complacency, and the nation must confront future challenges with resilience to accelerate socioeconomic development and reach its prosperity goals.
Awardees at the event echoed similar sentiments. BelaynehKindie, a recognized investor, stated that the award motivates further efforts in the manufacturing sector, which is the top driver of Ethiopia’s economy. He also noted that the recognition strengthens the connection between the government and manufacturers, aiding in export promotion and quality production.
Belayneh added that the manufacturing sector contributes significantly to income tax collection, boosts income generation through processed goods, and supports import substitution.
Seid Damtew, another awardee, expressed that the national recognition fuels his commitment to the manufacturing industry, which he considers the backbone of Ethiopia’s economy. He called for more government support to foster knowledge transfer and
and reception infrastructure in this area. The wide ranges of activities are underway to develop and promote the area to make tourist destination in collaboration with East Hararghe zone, he noted.
Hence, these activities would be completed near future. In addition to this, it would create a special opportunity for local and international tourists to visit other caves, birds, forests, wild animals and others who come to visit this cave, he underscored.
The state has been undertaking various measures to make state tourism sector competitive by creating jobs, facilitating environment protection, adapting science and latest technologies.
He indicated that developing and making state’s tourism potentials effective requires the participation of all segments of the communities. economic development through private sector investment.
Feleke Bekele, also recognized for his contributions, lauded the platform for fostering enthusiasm among stakeholders in addressing pressing issues within the sector. He urged the government to address challenges, particularly in providing incentives, enabling a favorable financial environment, and offering other packages to support investor participation.
Ethiopia’s manufacturing sector continues to play a pivotal role in the country’s journey toward economic resilience and growth.
The ‘Let Ethiopia Produce’ initiative is a government-led program aimed at promoting industrialization and economic development in the country. It encourages domestic production of goods and services, reduces reliance on imports, and promotes exports.
BY ASHENAFI ANIMUT
THE ETHIOPIAN HERALD TUESDAY 1 OCTOBER 2024
