Ethiopia's Construction Sector Booms, Reaching 21 Percent of GDP: Deputy PM 

Addis Ababa, May 30/2024 (ENA) Deputy Prime Minister Temesgen Tiruneh said Ethiopia's construction industry has reached a significant milestone, contributing 21 percent to the country's gross domestic product (GDP). 

The senior government official made the remark  while inaugurating the highly anticipated Big 5 Construct Ethiopia 2024 Exhibition and Expo in the nation's capital, Addis Ababa. 

The "Build Ethiopia" themed event, attended by the Speaker of House of Peoples' Representatives, Tagesse Chaffo, Addis Ababa Mayor Adanech Abiebie, and Urban and Infrastructure Minister Chaltu Sani, among other industry stakeholders, celebrated the remarkable growth of Ethiopia's construction sector.

Deputy Prime Minister Temesgen stated on the occasion that the industry is expected to maintain an annual growth rate of over 8 percent,  contributing greatly to the country's overall prosperity.  He highlighted the government's efforts to create an enabling environment that fosters investment and further development of the construction industry.

The construction sector in Ethiopia is playing a vital role in infrastructure development and job creation, Temesgen said. 

Ethiopia has the capacity to supply 80 percent of the construction materials needed within the country, the Deputy Prime Minister indicated. 

"Our 10-year development plan prioritizes the construction of roads, railways, and special economic zones, demonstrating the government's commitment to the industry's growth.", Temesgen added. Urban and Infrastructure Minister, Chaltu Sani for her part emphasized the importance of coordination among various stakeholders to ensure the continued expansion of the construction industry, which is a key driver of Ethiopia's economic transformation.

The Big 5 Construct Ethiopia 2024 exhibition, organized by the Ministry of Urban and Infrastructure, the Ethiopian Construction Works Corporation, and partners, 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, the United Arab Emirates, England, Algeria, Oman, and Qatar.

Alongside the exhibition, the event will host a series of professional panels and discussions on engineering, project management, technology, infrastructure, and architecture, offering valuable opportunities for knowledge-sharing and networking within the industry.

Ethiopian News Agency