Recent data from the Ethiopian Industrial Parks Development Corporation shows that Chinese investments are contributing significantly to the development of Ethiopia’s manufacturing industry.ADDIS ABABA, Ethiopia’s government says recent efforts to address challenges facing the country’s manufacturing industry have significantly increased production capacity and job creation potential.
Xinhua News Agency reported that Ethiopia’s Minister of Industry Melaku Arebel said that various initiatives and initiatives have significantly increased the production capacity of the manufacturing industry, which has recovered from about 46 percent of the country’s total production capacity to 60 percent in recent years. He said he did. National Ethiopian News Agency.
The Minister also noted that these efforts have significantly increased the annual job creation capacity of the manufacturing industry as a whole, with manufacturing now contributing more than 156,000 jobs, a significant increase compared to the previous year. He also emphasized that
As Ethiopia’s domestic market has historically been highly dependent on imported goods, improvements in the manufacturing sector have also increased the proportion of domestically produced products, which has risen from 30% to 40% in the past few years, Abel pointed out. .
The East African country has spent the past decade developing dozens of industrial parks across the country with the aim of becoming Africa’s manufacturing hub. A significant number of foreign investors have expressed interest in entering the country’s manufacturing industry.
According to recent data from the Ethiopian Industrial Parks Development Corporation, Chinese investors currently represent the largest group of foreign investors across the country’s industrial parks, and investments from China will contribute significantly to the development of Ethiopia’s manufacturing industry. I am doing it.
In a statement released in October, the Ethiopian Investment Commission highlighted the important role of Chinese investors in promoting Ethiopia’s economic development, injecting significant capital and creating jobs.
According to the report, some 3,309 Chinese projects have invested more than US$8.5 billion in Ethiopia in the past few years, contributing significantly to the country’s socio-economic goals. These investments have created more than 325,400 permanent and temporary job opportunities for Ethiopians.
