By: Wegayhu Muluneh
The wheels of industry are turning again in Ethiopia, as over 200 industries reopen in Tigray region alone. During a session with the Ethiopian Parliament, President Taye Astke-Selassie emphasized the sector's impressive growth of 9.2 percent in the last fiscal year, largely fueled by a robust 10.2 percent increase in the high and medium manufacturing sub-sectors.
This resurgence is a testament to the resilience of the industry and the strategic initiatives implemented by the government. To further invigorate this vital sector, the government has introduced the "Ethiopia Tamart" initiative, which has successfully enhanced production capacity by an impressive 59 percent and expanded the domestic market share to 40 percent.
Beyond Tigray, a total of 395 additional manufacturing facilities have been restored nationwide, showcasing the government's steadfast dedication to overcoming industrial challenges and promoting sustainable economic development.
With these efforts, the manufacturing sector has not only increased its production capabilities but has also generated a remarkable $2.8 billion in revenue, signaling a bright future ahead.