Ethiopia
managed to earn 436.73 million U.S. dollars from the manufacturing sector
exports in the Ethiopian Fiscal Year (EFY) 2016/17 that ended on July 8.The
export revenue met only 47.8 percent target of the 913.66 million U.S. dollars
the East African nation had planned to earn during the EFY.Assefa Tesfaye
Corporate Communications Director at Ethiopia Ministry of Industry (MoI) told
Xinhua on Tuesday that lack of management and technological capacity of some
industries, insufficient supply of manufacturing inputs, quality problems with
manufacturing inputs and delay in commissioning of several industries contributed
to the disappointing result.
MoI in particular mentioned a commissioning lag in some manufacturing plants
operating in Ethiopia''s highly advertized Hawassa Industrial Park for the
disappointing export revenue.Built by China Civil Engineering Corporation
(CCECC), the Hawassa Industrial Park 275 kms south of capital Addis Ababa was
inaugurated back in July 2016.
Eighteen companies have already started operations inside the industrial park
and six of them are presently exporting their products to the global market.Once
operational at its full potential, the park is expected to generate 1 billion
dollars for the Ethiopia annually mainly from textile and garment sector.It
is the textile and garment sector that showed its most disappointing result
earning the East African country 89.3 million dollars in export revenue out of
a planned 271 million dollars. Enditem
Source: Allafrica.com Friday, 11 August 2017