Addis Ababa: Ethiopia's agricultural export, which is up to 80 percent of the total, can grow immensely with value addition, Industry Minister Melaku Alebel said. The minister stressed the need for consolidating efforts in agro-processing to utilize the untapped potential in the sector. According to him, out of 3.8 billion USD exported in the concluded Fiscal Year, 78 percent was obtained from agricultural products. Speaking at a consultive meeting on opportunities and challenges on Yirgalem Integrated Agro- Industrial Park (YIAIP) held in Addis Ababa today, he said the government of Ethiopia has been working by giving attention to the industry sector, including integrated agro-processing. Infrastructures were constructed with 32 Billion Birr for 4 agro-integrated industrial parks, including Yirgalem Integrated Agro- Industrial Park, to create conducive environment for investors. Melaku lauded Yirgalem Integrated Agro-Industrial Park as one of the preferable parks for investors due to various conditions including input supply, infrastructure access, and closeness to market, labor availability, among others. Expressing the government's commitment to support investors engaged in the sector, the minister called on investors to seize opportunities in the industrial parks, including Yirgalem Integrated Agro-Industrial Park. Sidama Region Chief Administrator, Desta Ledamo on his part expressed the regional government's commitment to providing all essential support for investors engaged in Yirgalem Integrated Agro-Industrial Park. Noting that the park has untapped potential with infrastructures, he called on investors to seize the opportunity to invest in the park. Yirgalem Integrated Agro-Industrial Park (YIAIP) is located 318 kms away from Addis Ababa and lies on 294 hectares. Source: Ethiopian News Agency
Related Posts
Trade: agreement between Zambia and China for the use of their national currencies
Zambia and China have decided to use their national currencies for the settlement of their trade and the financing of their bilateral investments. A measure which aims in particular to reduce exchange costs. China has invested more than $11.3 billion i…
Morocco’s Economic Development highlighted in Washington
Washington – Morocco’s embassy in Washington organized on Friday its second annual dinner debate under the theme ‘Morocco’s Economy: Challenges and Prospects’, in the presence of the Minister of Economy and Finance, Nadia Fettah, on the sidelines of t…
Morocco: $11.7 billion forecast to finance the reconstruction program
The Moroccan government plans at least 120 billion dirhams, or nearly 11.7 billion USD, to rebuild the country after the earthquake that occurred on September 8. The program will extend over 5 years and target 4.2 million. Funding will be provided from…