Fana: At a Speed of Life!

Ethiopia Tamrt program achieved $2bn through import substitution products: Ministry

Addis Ababa, August 31, 2023 (FBC) – Industry Minister Melaku Alebel stated that more than 2 billion US dollars of import products were replaced by domestic products through the “Made in Ethiopia” (Ethiopia Tamrt) program activities in the 2022/23 Ethiopian fiscal year.

The Minister announced the outcome during the Ministry’s annual performance for 2022/23 (2015 Ethiopian year) and a consultation on the sector’s priority areas.

Mr. Melaku Alebel said the activities carried out in increasing the production capacity of the manufacturing industry and the manufacturing sector in “Made in Ethiopia” (Ethiopia Tamrt) program was effective.

In particular, the activities undertaken in creating chain and linkage between manufacturing industries in market and raw material supply, raising the awareness of farmers and manufacturing firms, and supporting them to operate at their full potential were encouraging, he noted.

The Minister pointed out that the 202/23 Ethiopian financial year was encouraging in terms of attracting domestic and foreign direct investment, thereby increasing the production capacity of industries to 55 percent.

According to Melaku, the sector also recorded encouraging outcomes in increasing export products, manufacturing import substitution products, and creating job opportunities.

In this regard, import substitution products accounted for more than 2.2 billion US dollars in the previous fiscal year, he asserted.

It is stated that the activities being carried out in the manufacturing sector are the foundation stone for achieving the structural transition of the economy.

You might also like

Leave A Reply

Your email address will not be published.