The enormous potential in the Extractive and Mineral industries and its contribution for foreign currency earning was highlighted as opportunities for making the sector competitive. This was underlined during a symposium organized by the Addis Ababa Chamber of Commerce and Sectoral Associations on the concluding event of the 19th Addis Chamber International Trade Fair held Tuesday.
Delivering a presentation entitled ‘Competitiveness in selected Ethiopian Industries: The case of Extractive and Mineral industries” on the symposium, Process Owner at the Ethiopian Revenue and Customs Authority Amelework Olana said that the sector sits next to coffee as the highest foreign exchange earner racking up more than 19 per cent of the total export, and can put in significant role in export diversification.
She said the fact that the country’s minerals are untouched or untapped means that they present enormous potential for so many investors. Besides these factors, the sector’s contribution to the GDP alongside the job opportunities created and its potential for job creation gives the sector the edge for its competitiveness, according to Amelework.
She also attributed the condusive environment and the government’s incentive offerings as pluses, while also pointing out challenges, like limited technical capacity and technological innovation in the sector, shortages of professionals, among others, to be held within the sector.
She recommended for the government and the ministry to give great attention to develop human resource capacity and establish mining institute together with other suggestions.
CEO of the National Mining Corporation Melaku Beza on the symposium for his part said that the attractive proclamation and directives play a huge role in attracting investment towards the sector.
He also said that the acceptance of Ethiopia’s candidacy into Extractive Industries Transparency Initiative will help bring transparency on how the country manages and supervises its mining sector.
This symposium is part of the City’s Chamber effort to create the platform for experience and knowledge sharing for local companies and industries.
[TheEthiopianHerald]