The Office of Government Communication Affairs (GCAO) has stated that Ethiopian renaissance shall become a reality through fostering the transition from agriculture to industry led-economy.
In its weekly statement released today, the office noted that Ethiopia is persevering to facilitate its transition from agriculture to industry led economy and make its renaissance a reality.
Development of urban centers, curbing unemployment, improving foreign exchange reserve, boosting domestic production, transferring more knowledge and technology from abroad are among the key targets set for the near future.
The country’s economy is scheduled to witness structural changes with the expansion of the manufacturing sector and the proliferating industrial parks in different parts of the country are parts of this plan.
The Hawassa industrial park, which was developed not more than a year ago, now has joined industries that are supplying products both to the domestic and foreign market.
The Kmbolcha, Bole Lemi 2, Diredawa, Adama, Bahirdar and Mekelle industrial parks are expected to join such industries soon.
Ethiopia is the second successful country next to Vietnam in terms of attracting foreign investment in the textile sector and these are among the foundation to realize Ethiopia renaissance.