A Nation in Transformation
By Solomon Meconen (Addis Ababa)
Sept 10 2010
On the eve of these promising new year, Ethiopia is clearly in the middle of transforming itself politically and economically. Witnessing the recent election of a new crop of leaders in the coalition parties, the ruling party is paving the way the smooth transfer of power from the old guards to the new generation of leaders. While the liberation struggle leaders are gracefully retiring, a new crop of leaders are taking over to take the nation a leap forward into the group of middle income countries.
In terms of the economy,with the new five years development plan the manufacturing sector is to replace the service sector as core engine of a growth, under a strong influence of Agricultural based industrialization. The recent devaluation of birr and the frank discussion of PM Meles with business community is clear indication that the rent seeking era is almost over.
Import substitution seems to be the motto, and these nation of immense resources and huge population is in a catching mood. The new era isn't seems to be about walking but it's definitely about running economically to regain the lost decades. It's no wonder the Turkish, Indians and Chinese are rushing to open a duty free zones here.
Source Ethiopian Observer, Read More