PM Abiy says strengthening local production key to Ethiopia’s economic independence & sovereignty

Arba Minch, July 2, 2026 (FMC) — Ethiopian Prime Minister Abiy Ahmed (PhD) has said that strengthening domestic production is key to Ethiopia’s economic independence and sovereignty.

In a social media post after his visit to Yo Holding charcoal factory in the Gamo Zone of South Ethiopia Regional State, the Prime Minister said strengthening domestic production through Ethiopia’s own capabilities is the foundation of the country’s economic independence and its sovereignty.

He noted that the factory, which began operations last year, contributes to import substitution by supplying local industries with domestically produced products, reducing reliance on imported goods. “By supplying the needs of our industries with locally produced products, the factory has replaced imports and reduced the need for foreign products.”

PM Abiy also highlighted that the facility has created employment opportunities for local residents.

The Prime Minister further stated that Ethiopia’s journey to develop its natural resources through domestic investment and sustained effort will continue, reaffirming that such initiatives are central to strengthening economic sovereignty.

“Our journey to develop our country’s natural resources through hard work and domestic investment will continue with renewed determination. In doing so, we will strengthen our economic sovereignty,” he asserted.