December 26, 2012

Ministry calls on citizen entrepreneurs to become beneficiaries of investment prospects in industry sector

Ministry calls on citizen entrepreneurs to become beneficiaries of investment prospects in industry sector

Asmara, 26 December 2012 – The Ministry of Trade and Industry has called on citizen entrepreneurs to become beneficiaries of the investment prospects in the industry sector.

Giving an elaboration as regards the paper he presented at the Second National Investment Conference, the Minister of Trade and Industry, Mr. Estifanos Habte, disclosed that Asmara Brewery, Red Sea Bottlers Share Company, Asmara Milk Factory, Alfa Food Factory, Dekemhare Pasta Factory, the Children’s Food Factory in Dekemhare, Red Sea Food Products and Red Sea General Mills are among the companies to be transferred to private ownership on the basis of shares and sole proprietorship.

Moreover, the Minister explained that the investment prospects in the country are potentially crucial as regards drawing foreign currency, fostering exports, creating job opportunities and acquiring marketing experience at international level.

There would be more investment opportunities in the domains of agricultural industry, infrastructural equipment production, marine resource and manufacturing. A total of 32 manufacturing projects would be launched, as the necessary information regarding machinery, market and human resource have been compiled and distributed to potential investors, according to reports.

Pointing out that the government has been encouraging investment in the manufacturing domain, Minister Estifanos called on entrepreneurs to make due contribution pertaining to nurturing up-to-date skills, innovation of new technology and ensuring more career opportunities for women, which merits are among the criteria points on the part of the government.

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