Ethiopia’s construction sector accounts for 21% of GDP

Deputy Prime Minister Temeshgen Tiruneh announced that Ethiopia’s construction industry has achieved a significant milestone and now contributes 21% of gross domestic product (GDP).

The announcement was made during the opening of the much-awaited Big 5 Construct Ethiopia 2024 Expo in Addis Ababa, it said.
EAW.

The event, titled “Build Ethiopia”, was attended by prominent personalities such as the Speaker of the House of People’s Representatives Tagesse ChaffoMayor of Addis Ababa Adanech AbiebiMinister of Urban Affairs and Infrastructure Chaltu Sani and other industry stakeholders. The event highlighted the significant development of the construction sector in Ethiopia.

Deputy Prime Minister Temeshgen emphasized that the industry is expected to grow at a rate of over 8%. per year, which will significantly contribute to the overall prosperity of the country. He emphasized the important role of the sector in infrastructure development and job creation, noting that Ethiopia is able to supply the domestic market with 80 percent. building materials.

Minister of Urban Affairs and Infrastructure Chaltu Sani stressed the importance of coordination among various stakeholders to ensure the continuous development 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 Development and Infrastructure and the Ethiopian Construction Works Corporation, aims to provide local and international construction companies with a platform to showcase their products, services and innovative solutions.

The three-day event is expected to attract over 9,000 industry professionals and feature over 150 exhibitors from 30 countries including Ethiopia, Germany, Italy, Turkey, China, India, Saudi Arabia, the United Arab Emirates, Algeria, Oman and Qatar.

In addition to the exhibition, the event will feature a range of professional panels and discussions on engineering, project management, technology, infrastructure and architecture, offering valuable opportunities for knowledge sharing and networking within the industry.

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