PM Emphasizes Local Capabilities as Cornerstone for Economic Independence

Addis Ababa, July 2, 2026 (ENA) — Strengthening domestic production through local capabilities is the cornerstone of Ethiopia’s economic independence and sovereignty, Prime Minister Abiy Ahmed said.

The Prime Minister made the remark during a visit to the Yo Holding Coal Factory in the Gamo Zone today.

‘‘By supplying the needs of our industries with locally produced products, the factory has replaced imports and reduced the need for foreign products. It has also created employment opportunities for local residents,’’ the premier wrote on his social media post.

He further said that the journey to develop the country’s natural resources through hard work and domestic investment will continue with renewed determination. "In doing so, we will strengthen our economic sovereignty.’’

The factory that has been mining coal, washing, and processing has significantly reduced the nation's reliance on imports by supplying high-quality, locally produced coal to domestic industries, while simultaneously creating vital employment opportunities for local residents.

Yo is a coal mining and washing company known for its excellence in the extraction, processing, and reliable supply of high-quality coal in Ethiopia.