-Finalizes import substitution export policy
“Let Ethiopia Produce” movement has revitalized the productivity of manufacturing industries by overcoming their bottlenecks, said the Ministry of Industry.
‘Let Ethiopia Produce’ Movement Project Office Coordinator at the Ministry of Industry, Ayana Zewdie (PhD) told the Ethiopian Press Agency (EPA) that the movement enabled some 744 local and foreign investors to invest in the manufacturing sector during the just concluded Ethiopian fiscal year.
The manufacturing industry has not been contributing fair share to the economy due to various problems. Accordingly, solving the bottlenecks of the sector, increasing its contribution to the economy, boosting productivity and international competitiveness are the main goals of the movement, he said.
Ayana elaborated that efforts have been made to create awareness, establish a coordinated system, create market and resource linkages, and encourage national production since the announcement of the movement.
The coordination mechanisms formed by the movement created a conducive environment for producers overcoming financial, resource and infrastructural challenges, he indicated.
As to him, due attention has been given to create a society that is proud of its country’s products.
To this end, government institutions are giving priorityto purchasefrom local manufacturers while industries are also trying to improve their product quality, the Coordinator said, adding that this has increased the domestic market share of manufacturing industries from 30% to 38%.
Furthermore, the country substituted theuniforms of students and the security forces that were imported from abroad which enabled the nation to save 37 and 49.4 million USD respectively, he capitalized.
To overcome sector bottlenecks, the Ministry of Industry finalized the import substitution and export policy to implement soon. Some 14 strategies have been also prepared and ready to implement in a bid to boost the capacity of the manufacturing industries, he stated.