Fed agencies to implement ten year plan


The Ministry of Trade and Industry is developing a ten year prosperity plan. All federal offices will implement the plan between 2020-2030.
According to the Ministry, the plan has three major goals. To create a digitalized trading system to make trade more efficient, increase the countries export revenue and improve growth rate and develop the manufacturing sector to 20pct of the GDP.
Eshete Asfaw, The State Minister of Ministry of Trade and Industry said, “Developing export oriented productions are planned as one of the key strategic sectors.” These include: textile and garment industry, leather and leather products industry, metal engineering industry, meat, dairy and honey processing industry, chemical and construction inputs industry, agriculture-processing industry, and pharmaceutical industries. At the end of the ten years the ministry has plans to increase export revenue up to USD 20 billion annually.
To achieve an annual average real GDP growth rate of 22 percent within a stable macroeconomic environment and thereby contribute towards the realization of Ethiopia’s vision of becoming a lower middle-income country by 2025focuses on ensuring rapid, sustainable, and broad-based growth by enhancing the productivity of the manufacturing sectors, improving the quality of production, and stimulating competition within the economy.
The ministry is moving to digitalize its system including online trade registration and licensing system, and preparing an “one office service”.
According to Eshate, implementation of the plan will start in 2020, after the end of the Ethiopia’s Growth and Transformation Plan II (GTP II).
Ethiopia’s Growth and Transformation Plan II (GTP II) implement in 2015/16 up to 2019/20 aims to achieve an annual average GDP11 percent growth rate: although the GDP remains less than the plan.
According to the World Bank, Ethiopia’s economy experienced strong, broad-based growth averaging 9.9% a year from 2007/08 to 2017/18, compared to a regional average of 5.4%. Ethiopia’s real gross domestic product (GDP) growth decelerated to 7.7% in 2017/18. Industry, compared to the previous year mainly construction, and services accounted for most of the growth. Agriculture and manufacturing made lower contribution to growth in 207/18. Private consumption and public investment explain demand-side growth, the latter assuming an increasingly important role.
The ministry has plans to get 3.77 billion USD in from export revenue, 2.65 billion USD from agricultural expenditure, 797.1million USD from the manufacturing sector, 265.8 million USD from mining and minerals in 2019/20.