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Ethiopia proposes industrialization to solve poverty in the world

Addis Ababa, Nov 27 (Prensa Latina) The Prime Minister of Ethiopia, Abiy Ahmed, said industrialization can lift hundreds of millions of people out of poverty in the world, mainly in manufacturing sector.

Speaking at the 20th General Conference of the United Nations Industrial Development Organization (UNIDO) in Vienna, Austria, Ahmed said manufacturing in particular has become the engine of prosperity by providing employment and fostering innovation in both developed and developing countries.

“Over the past two decades, the world of industry has been in a constant state of flux due to digital transformation and the evolving geopolitical landscape and the need for green industrialization due to climate change,” he continued as quoted by his Office’s account on the social network X.

He considered that the UNIDO conference offers an opportunity to affirm our shared commitment to promote inclusive and sustainable industrial development.

He stressed, in this regard, that Africa is endowed with abundant natural resources, including critical minerals and a dynamic young population that are essential for industrial production and economic transformation.

“However, poverty remains among the most serious challenges that involve placing Africa at the center of the global industrialization agenda,” he stressed.

The Ethiopian head of government mentioned the reforms driven since 2018 in the country based on a deep understanding of its potentials, challenges and opportunities to expand the economy and accelerate poverty reduction.

“Our domestic economic reform agenda introduced macro-financial, structural and sectoral reforms aimed at liberalizing key economic sectors such as telecommunications and banking, encouraging private sector investment, enhancing external competitiveness and improving the economy,” he stressed.

They have also invested extensively in multi-sectoral sources of growth under those identified pillars: agriculture, industry, tourism, information and communication technology, and mining.

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