Ethiopia earned 193.5 million US dollars from the export of manufactured products in the last nine months according to the Ministry of Industry.
The revenue earned exceeded the sum earned in the same period last year by 55.9 million US dollars or 40.7%.
The revenue was earned from the export of leather and leather products, agro-processing, chemicals, pharmaceuticals, textile and garment said Mekonnen Manazewal, State Minister of Industry in a presentation of the ministry’s nine month performance report to the House of Peoples’ Representatives.
The export earnings were only 57.8% of the target set due to a shortage in raw materials, rising costs and the limited capacity of the manufacturing industry explained Mekonnen.The Ministry has provided licenses to 457 investment projects valued at 64.4 billion birr in its continued efforts to attract, enhance and support investment in Ethiopia he noted.
392 of the total number of investment projects licensed by the industry are owned by international investors said Mekonnen.
The Ministry has been carrying out encouraging activities to enhance investment, to generate foreign currency and to implement import substitution said Zenebe Gilo, Vice Chairperson of the Industrial Affairs Standing Committee.
Source: Ethiopian News Agency
