Ethiopia's construction sector reaches 21% of GDP
Deputy Prime Minister Temeshgen Tiruneh has announced that Ethiopia's construction industry has reached a significant milestone and now contributes 21 per cent to the country's Gross Domestic Product (GDP).
The announcement was made during the opening of the much-anticipated Big 5 Construct Ethiopia 2024 Expo in Addis Ababa, as reported ENA.
The event, with the theme “Construct Ethiopia”, was attended by prominent figures such as Speaker of the House of People's Representatives Tagesse Chaffo, Addis Ababa Mayor Adanech Abiebi, Minister of Urban Affairs and Infrastructure Chaltu Sani and other industry stakeholders. The event highlighted the significant growth of Ethiopia's construction sector.
Deputy Prime Minister Temeshgen emphasised that the industry is projected to grow at an annual rate of over 8 per cent, which will contribute significantly to the overall prosperity of the country. He emphasised the vital role of the sector in infrastructure development and job creation, noting that Ethiopia is capable of supplying 80 per cent of construction materials to the domestic market.
Minister of Urban Affairs and Infrastructure Chaltu Sani emphasised the importance of coordination among various stakeholders to ensure the continued development of the construction industry, which is a key driver of Ethiopia's economic transformation.
The Big 5 Construct Ethiopia 2024 exhibition, organised by the Ministry of Urban Development and Infrastructure and the Ethiopian Construction Works Corporation, aims to provide a platform for local and international construction companies to showcase their products, services and innovative solutions.
The three-day event is expected to attract over 9,000 industry professionals and feature more than 150 exhibitors from 30 countries including Ethiopia, Germany, Italy, Turkey, China, India, Saudi Arabia, United Arab Emirates, Algeria, Oman and Qatar.
In addition to the exhibition, the event will feature a number of professional panels and discussions on engineering, project management, technology, infrastructure and architecture, offering valuable opportunities for knowledge exchange and networking within the industry.
Source: tvbrics