Commendable Tasks Accomplished In Encouraging Private Economic Sector

In line with the Government’s continued endeavors to encourage private economic ventures and industries, commendable tasks have been accomplished as regards privatizing government-owned industrial establishments, stated Mr. Tadesse Woldeyohannes, director general  of industrial development in the Ministry of Trade and Industry.
Asmara, 19 April 2011 – In line with the Government’s continued endeavors to encourage private economic ventures and industries, commendable tasks have been accomplished as regards privatizing government-owned industrial establishments, stated Mr. Tadesse Woldeyohannes, director general  of industrial development in the Ministry of Trade and Industry.

In an interview he made in connection with the forthcomings symposium of the Ministry, he said that the Government is giving priority to the encouragement of Eritrean private investors open new business ventures. In this regard, Mr. Tadesse indicated that 34 government-owned industries during colonial rule have been privatized.

Pointing out that the activities carried out to reactivate the previously paralyzed industries, he explained that such endeavors played major role in raising productivity, besides creating ample job opportunities.

Mr. Tadesse further stated that the Government made due contribution in providing hard currency for purchasing raw materials, spare parts and the like. He also noted that major project studies have been undertaken as regards leather products, textiles and garments, building materials and salt so as to encourage investment.

Meanwhile, he explained that although drop was witnessed in gross industrial income due to limited resources and external hostilities, at present such industries are nonetheless in a position of raising productivity. Training programs were also given to 400 individuals so as to upgrade their capacity.

Moreover, Mr. Tadesse indicated that future work program of the department would focus on implementing studies conducted on infrastructure and raw material supply, as well as fostering relations with various partners.