Improved Investment Climate Boosts Export Production, Import Substitution

Kombolcha: Investors say the conducive environment created by the government is enabling them to expand production of export-oriented and import substitution products. Among the investors, Ras Guba Flour and Biscuit Factory Manager Daniel Abera highlighted the government's attention to private investors by addressing key investment-related challenges.According to Ethiopian News Agency, initiatives such as the 'Made in Ethiopia' Expo have encouraged investors and helped create solutions to challenges facing the sector. The factory currently produces more than 600 quintals of wheat flour and nearly 10,000 cartons of biscuits per day for the local market. Daniel noted that, in addition to contributing to import substitution efforts, the factory is also working to enter the international export market.Walia Cork Factory representative Tamiru Alebachew added that the government's support for investors enabled the factory to begin operations quickly and become productive within a short period. The factory is co ntributing to import substitution by producing more than 6,000 soft drink bottle caps daily.Mohamed Amin Yusuf, Mayor of Kombolcha City Administration, said significant achievements have been registered in the investment sector due to the attention given by the government in recent years. He stated that industries participating in the 'Made in Ethiopia' initiative have increased their production capacity from 47 percent to 60 percent. According to the mayor, during the past nine months, industries in the city generated more than 40 million USD from export products and over 70 million USD through import substitution products.