Ethiopia is poised for significant industrial expansion, with Prime Minister Abiy Ahmed projecting a 12% growth in the sector for the current year. This ambitious target aligns with the country's wider economic strategy under the "Made in Ethiopia” Productivity initiative, which has successfully increased production capacity from 59% to 65%.
During the ongoing address in the Parliament, Prime Minister Dr Abiy highlighted the sharp rise in industrial energy demand, which has now reached a substantial 40%. This growth is largely attributed to enhanced operational efficiency and increased utilisation of production facilities across various industries, he stated.
Notably, according to the PM, the cement industry has seen significant advancements, alongside a remarkable 18% growth in steel production. The Prime Minister underscored the strategic efforts to ensure that domestic steel production meets the escalating demand, reducing reliance on imports and bolstering regional supply chains.
In a bid to further enhance capacity, Prime Minister Abiy announced the construction of a state-of-the-art glass manufacturing facility, projected to produce up to 600,000 tons annually. This factory is expected to commence operations by December or January, reinforcing Ethiopia’s position in the regional glass market, according to the Prime Minister.
Moreover, the government is making strides in renewable energy production, with solar panel manufacturing facilities currently in development, also adding these initiatives not only support the industrial sector's growth but also contribute to achieving sustainability goals and promoting clean energy solutions.
Overall, the Prime Minister's remarks reflect a determined push towards bolstering Ethiopia's industrial output and meeting energy demands while fostering economic resilience and sustainability. He indicated that the ongoing investments in infrastructure and production capabilities are aimed at positioning Ethiopia as a competitive player within the global market.