Addis Ababa, May 6, 2025 (ENA) – Stakeholders highlighted that efforts are being expended to provide efficient services and support to help the manufacturing sector thrive.
On the sideline of the 3rd Made in Ethiopia Expo, stakeholder’s discussions on pertinent issues to the manufacturing sector has continued.
The president of the Commercial Bank of Ethiopia (CBE), CEOs of the Ethiopian Shipping and Logistics and deputy commissioner of the Ethiopian Customs among others conducted the discussion.
During the occasion, Industry Minister Melaku Alebel urged participants to have productive discussions as part of making concerted efforts for the Made in Ethiopia initiative to thrive.
President of the Commercial Bank of Ethiopia (CBE), Abe Sano pointed out that macroeconomic reforms have improved banks’ foreign exchange earnings to distribute to the manufacturing sector.
This growth in hard currency is essential to bolster industry expansion and investment, encouraging increased production, and ultimately leverage the country’s overall economic progress.
He also mentioned that the manufacturing sector is receiving hard currency according to set priorities, with the CBE allocating over one billion USD for the sector.
With enhanced prospects for long-term loans, he stated that the CBE continues to provide an interest rate of about 16%.
He pointed out a significant chance for banks to boost the manufacturing sector’s competitiveness by offering foreign currency loans.
He pointed out that the access to foreign currency financing during this Ethiopian fiscal year has increased by 12 percent, highlighting that the financial support for the manufacturing industry will continue and grow stronger.
Beriso Amelo, CEO of the Ethiopian Shipping and Logistics, indicated that the country’s new logistics policy and strategy are designed to streamline procedures for the manufacturing industry, with goals of improving efficiency and effectiveness.
The Deputy Commissioner of Customs, Azezew Chanie, stated that the commission has simplified processes through an online portal, reducing waiting periods and boosting productivity, thereby providing round-the-clock service.
Ayana Zewdie, who serves as the National Coordinator of the Made in Ethiopia Initiative within the Ministry of Industry, highlighted the government’s commitment to fostering an enabling atmosphere for the growth of the manufacturing industry.
The government is improving customs and logistical operations to help manufacturers boost their competitiveness, create jobs, and enhance economic growth via the implementation of One Stop Services within Industrial Parks and zones. Working together with universities and development organizations has allowed for the domestic replacement of $10 billion worth of products through the Ethiopia Tamrit initiative over the last three years.
Participants report that numerous issues within government service delivery systems have been considerably alleviated this year.
Provided by Syndigate Media Inc. (
Syndigate.info
).
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