Government Priorities to Boost Domestic Production and Reduce Import Dependence
February 18, 2017
In a strategic move to strengthen and sustain economic growth, the government is prioritizing the enhancement of domestic production to satisfy national demand and diminish reliance on imported goods.
Last year, the nation successfully produced various products valued at four billion dollars through domestic products. Recognizing production growth as a primary indicator of economic advancement, all regional governments are committed to increasing both production and productivity.
As part of government focus area, plans are underway to establish one enterprise in each district over the next five years. This effort aims to elevate production levels, stimulate income generation, and create new employment opportunities, ultimately improving the quality of life for citizens and reducing poverty rates.
Ethiopia is making significant steps towards self-sufficiency in essential sectors such as food, in particular Wheat and Barley, pharmaceuticals, and oil products, despite the challenges of complete autonomy in production. The government is actively identifying the country’s potential and investing in the local market to replace imports, thereby enhancing competitive sales in the international arena.
By emphasizing the production of substitute goods, these policies are expected to conserve foreign exchange and provide citizens with access to affordable products.
The collective goal is to reduce expenditures on imported items, contributing positively to the nation’s sustainable economic growth while ensuring sufficient quality and quantity in domestic offerings.
