Manufactured products export revenue growing
Addis Ababa, 22 July 2014 (WIC) - Ethiopia has secured 400 million USD revenue from exporting manufactured products during the last Ethiopian budget fiscal year, said Ministry of Industry.
According to the Ministry’s Public Relations and Communication Affairs Head, Melaku Taye the performance has exceeded that of the previous year, even if it is below fifty percent of the set target.
The head, who said the revenues obtained from sector have been registering growth since the implementation of the Growth and Transformation Plan, added that the revenue from the sector which was 118.4 million USD two years ago has now grown fourfold.
According to him, the result indicates that the country’s competitiveness in the manufacturing sector is growing.
But there were limitations in providing services in logistics, customs, finance related services, Melaku admitted.
Challenges to the sector include lack of competition in domestic markets and the inclination of diverting products to those markets, he remarked.
Also were mentioned, low use of technology, management and technical limitations of companies, supply shortage, lack of sufficient integration of factories and delay of projects.
Measures have been taken to solve the problems faced in the sector through evaluating incentive systems and their implementations continuously, the head pointed out.
Providing support for factories in importing, facilitating the development of industrial zones, and encouraging the production of value added quality products are the issues that would be given priority in the future too, the head stated.
According to ENA, the contribution of the industry sector, which was 18 percent in 2003, has now from 21 to 23 percent share.
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