Saturday, July 13, 2024

Ministry of Trade and Industry provides support to Tigray Investors


Ministry of Trade and Industry has taken the lead to support investors in Tigray region to reopen their investment and continue their contribution in the region. During the three-week war that began in the Tigray regional state, several factories were severely damaged and looted.
On Friday December 25, officials from the ministry and different stakeholders held discussions with different representatives of investors from the Tigray region.
The ministry has set up an eight members task force from different stake-holders to re-launch industries that have been shut down. The ministry is also committed to finding solutions to companies that are concerned about ports, customs degradation foreign exchange problems financial supply and inability to enter into contracts with their customers
“The first mandate of the task force is to identify information of damage and destroy to re operate industries,” said Yohannes Dinkayehu, state minister of Trade and Industry. He explained that the ministry of Trade and Industry will send its expertise directly to the location of the factories to conduct field study and find a solution to support the factories.
As Yohannes Dinkayehu said, government will support the factories in the region to quickly get out of trouble.
Some of the factories outside Mekelle reported that they had been damaged but some said they were unable to comment on the damage due to the lack of security and communication in the area.
As most of the investors indicated during the so-called operation, most of their investments has been damaged, their employees have been scattered and due to the communication problem in the area some of the investor still have no information about their investments.
Among those burned and robbed are; Zenit Gebs Eseht, Semayata Ceramics, Ajj milk processor, savanna leather and Almed textile are some.
According to Gebreegzi Tshaye, owner of Zenit Gebs eshet, Zenit has set up a modern factory in shire town in addition to Akaki and Gelan birr. His factory was demolished by a heavy machine, destroying property worth of 92 million. Also, another victim of the war is the Semayata ceramics factory which was established five years ago with capital of 500 million birr as result of the war the factory was completely destroyed.
The government has solved the problem in the region and has vowed to restore the region to its full potential.
Along with the law enforcement work, it has set up committees in each sector to work for the restoration of the country therefore, discussions are underway to get employees in the region to work.
The manufacturing industry has a significant role to play in the country’s economic growth, job creation and other social and political issues.
According to the Ministry information, there are more than 90 large industries and about 1000 of small and medium enterprises, which has created job opportunities for 300,000 peoples in the region.

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