The reformist administration’s activities of the last year have brought encouraging results in the economic fronts. The country was in the list of a high risk of debt distress and, due to this, global financers had been unwilling to channel more finance to Ethiopia.
Hence, restructuring the debt was among the various activities that had been put top in the list. The diplomatic works championed in readjusting the debt resettlement period. Creditors restructure commercial loans to concessional ones.
Besides, the efforts unlock the doors for financial assistance. New financial grants have, thus, been secured from various sources.But, the other important source of forex is FDI. Ethiopia has long been one of the five FDI destinations in Africa, as many well-acclaimed international institutions have already ascertained, United Nations Conference on Trade and Development (UNCTAD) 2019 report could be one in this regard.
To attract more FDI and encourage domestic investment, the business doing environment has seen wide-ranging improvements. New commercial law that eases commercial registration and licensing has entered to force. Entrepreneurs and businesspersons alike can now access credit with a mobile asset as well. What is more, tax collection is now much modernized.
It is after putting in place these and many other tasks that the government has launched a new investment and Jobs Creation National Committee which Prime Minister Dr. Abiy Ahmed chairs. Among others, the committee ensures the creation of three million jobs during the fiscal year in effect. The committee also consists of the Deputy Prime Minister Demeke Mekonnen, presidents of the nine regional states, mayors of Addis Ababa and Dire Dawa cities as well as two representatives from the Office of the Prime Minister and ten federal ministries.
Of course, the goal of all of the activities is streamlined to job creation. A country like Ethiopia with the majority of the population under youth bracket creating jobs, and paving the way for the youth to create own jobs, is a must-do task.
So far, the ground is leveled to attain the jobs creation efforts. That does not mean everything is fulfilled. There would be a rise and fall along the way. Put it another way, the road is not a rosy bed. But working hand-in-glove, it is possible to achieve the great extent of the plan.
We can take ample lessons from the tree transplanting program that helped Ethiopia set a new world record. The people rallied to a common goal, took the initiative genuinely and brought it to successes. In the jobs creation effort as well every stakeholder must own the initiative genuinely. This could be in enforcing laws and offering prompt services, particularly at public offices.
The good this is, over a third of the population is attending modern education, be it primary and secondary or higher education. Tens of thousands of youths are graduating from higher education institutions year in, year out. What should the government and other stakeholders do is, among others, creating and sustaining a conducive business environment. Particularly, service provision at grassroots should be transparent.
Over and above, the diplomatic community ought to support the government’s move of job creation. Their supports of various sorts are so vital, as it has been practically expressed during the greening initiative.
The Ethiopian Herald, August 16/2019
