Prime Minister Abiy Ahmed (PhD) said Ethiopia's pathway to prosperity follows a multi-sector growth approach to enable equitable development while manufacturing remains a priority for its close linkage with other sectors.
Addressing the 20th General Conference of the United Nations Industrial Development Organization (UNIDO), Prime Minister Abiy pointed out that the manufacturing sector emerged as the driver of prosperity providing employment and fostering innovation in both developed and developing countries.
He expressed that Ethiopia has been making deliberate policy shifts aimed at boosting productivity in all sectors and creating a conducive investment and business environments.
"We have strengthened our adaptive industrial policymaking by establishing a free economic zone in order to be more agile in the face of a changing world. Second, we have been investing extensively in multi -sector growth sources under our homegrown economic reform pillars of agriculture, industry, tourism, ICT and mining," Abiy said.
Ethiopia's laser and laser products industry is also sizable, while chemical and construction input processing, in addition to manufacturing technology and engineering, offer great potential as import substitution industries, he stated.
The Prime Minister further reiterated that Ethiopia firmly believe that by pursuing inclusive and sustainable industrialization and diversifying its economy, can ensure prosperity, reduce inequality and contribute to a better future for its people and the world.
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Mentioning the advantage of late-comer countries like Ethiopia to realize the right industrial development, he said, Ethiopia's net-zero and climate resilient development strategy enables it to make economic development priority compatible with climate commitments.
"We firmly recognize that sustainable industrial development must not come at the cost of environment or the well-being of our people. Harnessing the potential of renewable energy sources to power our industries is our priority," he noted.
He also expressed his government's commitment to building a climate resilient green economy by expanding electricity generation from clean energy sources.
"Ethiopia already generates 98% of its energy from clean sources. [The grand Abbay Dam] is Africa's largest hydropower plant and Koysha is the third largest. We are expanding our wind, solar and geothermal sources and currently harnessing green hydrogen to support industrial growth,"Abiynoted.
The Premier further stated that the country has been diligently planting trees to address its dual goal of food security and climate change mitigation. Accordingly, he said 32.5 billion seedlings have been planted in five years through the mobilization of more than 25 million citizens throughout the country.
