Ethiopia: Oromia State to Initiate Industrialization Based Economic Revolution

Posted on :Monday , 6th March 2017

Oromia set to initiate a state wide economic revolution to fundamentally overhaul its economy through research based public-private partnership investment strategy aiming at ensuring economic justice among Oromo people.

State Communication Bureau Head Addisu Arega said the initiative would encourage domestic investment which in turn benefits the youth and farmers together with Foreign Direct Investment.

According to Addisu, the initiated economic revolution, in a bid to produce fundamental structural transformation in the state's economy targets establishing ago-processing industries, expanding mechanized agricultural practices as well as exhaustively developing the mining sector.

It was learned that, the initiative will focus on industrialization efforts that will help add values on natural resources and agricultural products of the state before injecting them to national and international markets.

Accordingly, the state has identified Oda Integrated Transport, Kegna Beverage, Ambo-Gnemer Manufacturing, Agro-industry and Mining, and Oromia Construction to be projects in the first phase of the initiative, that will engage over a million farmers and youths of the region as shareholders. Hence, a secretariat that executes the public-private partnership investment is set up in addition to the 25 member of State Council formulated to lead the implementation of the initiative.

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