Addis Ababa October 27/2020 (ENA) The Ministry of Mines and petroleum said it has been finalizing national mining and petroleum policy that will be implemented for the coming 20 years.
Despite Ethiopia’s huge untapped resources of the mining sector, it has no policy to help effectively exploit the sector, Minister of Mines and petroleum, Takle Uma told journalists after a half day forum held today.
Noting that absence of policy framework has been affecting the development of the sector, Takele pointed out the new mining and petroleum policy will provide Ethiopia with a clear road map to fully and effectively exploit the resources to expedite the national economy.
This policy framework will also create sustainable communication systems between key stakeholder that are pertinent to the development of the sector including federal and regional governments, he added.
According to the minister, the policy aspires to enable the nation fully produce gas oil, increase export trade and new jobs by creating a conducive environment for the development of the sector in the coming 10 years.
It also allows the private sector to import mine testing and filtering machines and equipments to curb the existing shortages of equipments in the country that are vital for the development of the sector.
The policy is also believed to attract foreign investors to engage in Ethiopia to develop the sector, the Minister said.