Ethiopia's Ministry of Industry (MoI) has introduced a new policy that focuses on import substitution as a means to enhance domestic production and reduce dependence on imports. This represents a departure from the previous emphasis on export-led manufacturing.
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The Ethiopian Sugar Industry Group has declared the commencement of sugar production for the 2024 season at the Omo Kuraz No. 3 Sugar Factory, as sugarcane grinding operations are now underway. The production plan for this year aims to yield 245,927.5 quintals of sugar, utilizing 4,600.5 hectares of land dedicated to sugarcane cultivation.
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Nirvana Processing, an Indian Company, is set to commence agro-food processing in Ethiopia's Bahir Dar Industrial Park with a 5 million USD investment.
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The Industrial Parks Development Corporation (IPDC) entered into agreements with 11 local and international companies that have expressed keen interest in investing in Mekelle, Jimma, Bahir Dar, Kilinto, and Bole Lemi industrial parks.
Add a comment Add a commentEthiopia's Industry Minister, Melaku Alebel, highlighted the government's commitment to prioritizing local manufacturers through the new industrial policy. This focus is part of the Home-grown Economic Reform and the 10-year Perspective Development Plan, contributing to overall sector improvement.
The Industrial Parks Development Corporation (IPDC) announced a significant increase in investment in the country's industrial parks. Out of a total of 177 shades, 157 are now occupied by investors, leaving only 20 available for new investments.
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