Addis Ababa is the capital city of Ethiopia. The country has experienced fast economic growth in the last decade, averaging about 10 percent a year. Economists cite the country’s manufacturing industry as a key element in the country’s success. Though with her high-rising population increase, she is forecast to be the fastest growing economy in Sub-Saharan Africa this year.
Ethiopia’s economy is predicted to grow by 8.5% this year. The figures signal continued economic expansion following a long period of impressive growth. To boost the economy, the country is pursuing a number of large scale infrastructure projects including The Grand Renaissance Dam and a railway network.
Vijaya Ramachandran, an economist at the American think tank Center for Global Development (CGD) said that “Ethiopia has had a very high growth rate and I think that’s a result in large part of a very concentrated effort by the government to boost industrial production and manufacturing.”
Ethiopia can follow in China’s footsteps, and become a destination for low-wage manufacturing jobs.
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