Nation Secures 500 Million USD from Export of Manufactured Goods

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July 13, 2022 (ENA) Ethiopia has secured 500 million USD from manufactured goods exported during the just concluded Ethiopian fiscal year.

This was disclosed at a meeting Industry Minister Melaku Alebel held with Ethiopian Manufacturing Industries Association to solve the bottlenecks in the sector.

The minister said Ethiopia earned half a million USD from export of various manufactured products during the stated period.

According to him, the revenue exceeded that of last year by 100 Million USD.

Affirming the existence of bottlenecks in the sector,  he pointed out that efforts have been exerted to address the problems.

Indicating
that most of the problems are associated with the policy frame work,
Melaku  stated that revision of the policy has been finalized.

Opportunities are also identified for export of industrial products in the 10 year plan.

The
minister finally called on private companies to actively engage in the
effort to solve the bottlenecks as this cannot be done by the government
alone.

The
association representatives on their part pointed out the challenges in
the sector, including shortage of raw material, foreign currency,
skilled manpower, service delivery, and infrastructures, especially
power supply.

They stressed that they are unable to produce in full capacity due to these problems.

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