{"id":1299,"date":"2026-01-29T06:41:07","date_gmt":"2026-01-29T06:41:07","guid":{"rendered":"https:\/\/www.amn.gov.et\/en\/?p=1299"},"modified":"2026-01-29T06:41:08","modified_gmt":"2026-01-29T06:41:08","slug":"new-industrial-policy-enables-usd-3-4-billion-foreign-exchange-savings","status":"publish","type":"post","link":"https:\/\/www.amn.gov.et\/en\/new-industrial-policy-enables-usd-3-4-billion-foreign-exchange-savings\/","title":{"rendered":"New Industrial Policy Enables USD 3.4 Billion Foreign Exchange Savings"},"content":{"rendered":"\n<p>AMN Plus-January 29\/2026<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>The remarkable achievement is largely attributed to the \u201cEthiopia Tamirt\u201d (Let Ethiopia Produce) movement and the implementation of the country\u2019s new industrial policy.<\/p>\n\n\n\n<p>Director General of the Basic Metals and Engineering Industries Association, Solomon Mulugeta, noted that in the past, between 60 and 70 percent of Ethiopia\u2019s foreign exchange expenditure was spent on importing industrial inputs.<\/p>\n\n\n\n<p>Solomon explained that recent reform measures have created a more conducive environment for manufacturers to produce these inputs locally.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"532\" src=\"https:\/\/www.amn.gov.et\/en\/wp-content\/uploads\/sites\/3\/2026\/01\/622906946_922603876803067_4675640454999481302_n-1024x532.jpg\" alt=\"\" class=\"wp-image-1301\" srcset=\"https:\/\/www.amn.gov.et\/en\/wp-content\/uploads\/sites\/3\/2026\/01\/622906946_922603876803067_4675640454999481302_n-1024x532.jpg 1024w, https:\/\/www.amn.gov.et\/en\/wp-content\/uploads\/sites\/3\/2026\/01\/622906946_922603876803067_4675640454999481302_n-300x156.jpg 300w, https:\/\/www.amn.gov.et\/en\/wp-content\/uploads\/sites\/3\/2026\/01\/622906946_922603876803067_4675640454999481302_n-768x399.jpg 768w, https:\/\/www.amn.gov.et\/en\/wp-content\/uploads\/sites\/3\/2026\/01\/622906946_922603876803067_4675640454999481302_n-1536x798.jpg 1536w, https:\/\/www.amn.gov.et\/en\/wp-content\/uploads\/sites\/3\/2026\/01\/622906946_922603876803067_4675640454999481302_n.jpg 1772w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>Tilahun emphasized that the policy focuses on four key areas: improving the business ecosystem, expanding access to finance, enhancing quality standards, and strengthening competitiveness.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>The \u201cEthiopia Tamirt\u201d movement has also emerged as a strong driving force in boosting manufacturers\u2019 productivity by helping to overcome operational challenges.<\/p>\n\n\n\n<p>Overall, the combined efforts are delivering tangible results, significantly reducing Ethiopia\u2019s reliance on imported goods and reinforcing the country\u2019s economic sovereignty by curbing foreign exchange outflows.<\/p>\n\n\n\n<p>By Birhanu Workneh<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 \u201cEthiopia Tamirt\u201d (Let Ethiopia Produce) movement and the implementation of the country\u2019s new industrial policy. Director General of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1300,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cybocfi_hide_featured_image":"","footnotes":""},"categories":[10],"tags":[],"class_list":["post-1299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","entry","has-media"],"_links":{"self":[{"href":"https:\/\/www.amn.gov.et\/en\/wp-json\/wp\/v2\/posts\/1299","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.amn.gov.et\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.amn.gov.et\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.amn.gov.et\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.amn.gov.et\/en\/wp-json\/wp\/v2\/comments?post=1299"}],"version-history":[{"count":1,"href":"https:\/\/www.amn.gov.et\/en\/wp-json\/wp\/v2\/posts\/1299\/revisions"}],"predecessor-version":[{"id":1302,"href":"https:\/\/www.amn.gov.et\/en\/wp-json\/wp\/v2\/posts\/1299\/revisions\/1302"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.amn.gov.et\/en\/wp-json\/wp\/v2\/media\/1300"}],"wp:attachment":[{"href":"https:\/\/www.amn.gov.et\/en\/wp-json\/wp\/v2\/media?parent=1299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.amn.gov.et\/en\/wp-json\/wp\/v2\/categories?post=1299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.amn.gov.et\/en\/wp-json\/wp\/v2\/tags?post=1299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}