The Ethiopian Ministry of Industry announced plans to incentivize new SMEs to enter the manufacturing sector. This announcement coincided with the inauguration of HK Plastic Formwork—a factory with a 10 million USD investment—by Minister Melaku Alebel. The government is prioritizing manufacturing, mining, agriculture, tourism, and ICT, and has implemented policy changes to boost production capacity, import substitution, job creation, and export growth. Efforts are also underway to encourage businesses from various sectors, such as hospitality, construction, and agriculture, to shift towards manufacturing.The manufacturing sector has seen significant progress under the "Let Ethiopia Produce" initiative. Minister Melaku highlighted that the new plant will not only support industrial growth but also contribute to environmental sustainability by reducing deforestation. According to HK Business Group’s Executive Manager, Kassanesh Ayalew, the facility will deliver recyclable, durable, and cost-effective plastic formwork that can lower construction costs and project delays while generating foreign exchange through exports. The factory is set to produce one million square meters of plastic formwork annually. (ICE ADDIS ABEBA)

Fonte notizia: African Trade Chamber