AMN Plus-January 29/2026
Ethiopia has saved USD 3.4 billion in foreign exchange over the past six months by placing strong emphasis on replacing imported goods with domestically produced alternatives.
The remarkable achievement is largely attributed to the “Ethiopia Tamirt” (Let Ethiopia Produce) movement and the implementation of the country’s new industrial policy.
Director General of the Basic Metals and Engineering Industries Association, Solomon Mulugeta, noted that in the past, between 60 and 70 percent of Ethiopia’s foreign exchange expenditure was spent on importing industrial inputs.
Solomon explained that recent reform measures have created a more conducive environment for manufacturers to produce these inputs locally.
Meanwhile, Tilahun Abay, Executive Officer for Strategic Affairs at the Ministry of Industry, stated that the new industrial policy is designed to address long-standing challenges in the manufacturing sector.
Tilahun emphasized that the policy focuses on four key areas: improving the business ecosystem, expanding access to finance, enhancing quality standards, and strengthening competitiveness.
According to Tilahun, these measures aim to resolve critical constraints such as shortages of inputs, limited access to financing, and policy bottlenecks that have long affected the sector.
The “Ethiopia Tamirt” movement has also emerged as a strong driving force in boosting manufacturers’ productivity by helping to overcome operational challenges.
Overall, the combined efforts are delivering tangible results, significantly reducing Ethiopia’s reliance on imported goods and reinforcing the country’s economic sovereignty by curbing foreign exchange outflows.
By Birhanu Workneh
