The peace established in the Somali region over the past few years has revitalized the investment sector, enabling manufacturing industries to commence operations.
In the last five years, 320 low, medium, and high-level manufacturing industries that have started operations in the region have registered over 34 billion Birr in capital. These manufacturing industries have also created more than 80,000 job opportunities for citizens.
It was also noted that investors in this sector are playing a significant role in reducing foreign currency outflow by producing goods domestically that were previously imported.
Ahmed Rashid Abdule, head of the Somali Region Investment and Industry Bureau, recalled that there were only about 70 to 80 manufacturing industries in the region previously. He stated that more than 320 factories have started operating since the recent reforms.
A study has been conducted on profitable business sectors for investors in the region, and it was highlighted that necessary support is being provided to investors engaging in the energy, mining, agriculture, and livestock development sectors.
He added that efforts are underway to expand manufacturing industries that consider the region's potential by implementing the " Made in Ethiopia" movement within the region.