Construction sector should contribute 20% of the country’s GDP

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Construction should contribute 20 percent of the total Gross Domestic Product (GDP) in the coming few years according to State Minister of Urban Development, Houses and Construction Hailemeskel Tefera.

According to the United Nations 2012 report Ethiopia is placed 85th from a total of 193 countries with an estimated GDP that amounts to USD 41,605 million.
This was said at the event organized by the Association of Ethiopian Class one Contractors (AECOC) to honor participants and sponsors of the second “Construction for Ethiopian Renaissance” exhibition that was held at the Addis Ababa Exhibition and Market Development Center from March 21- 25, 2014.
During the event held at Elilly International Hotel on Tuesday April 1, the State Minister said that the exhibition is one of a kind and  will help the industry players to work more closely and effectively.  
“Many exhibitors were present with their work and this kind of event will help the industry grow better.” “We want many firms in the construction industry and this is how we can overcome the problems in the sector,” he said.
Over 150 companies participated in the event to showcase their work.
Mulugeta Gessese General Manager of AECOC told Capital that the exhibition was a unique occasion that demonstrated the progress  construction has made. “It has been growing at an unprecedented rate recently and we demonstrated that,” Mulugeta said.
In the exhibition which was officially inaugurated by Mekuria Haile Minister of Urban Development, Houses and Construction, major players in the industry such as the Metal and Engineering Corporation (MeTEC), Ethiopian Railway Corporation and Ethiopian Roads Authority, showcased their achievements and future goals.  
“This exhibition was a place where leading builders can network,” Hailemeskel said. Construction companies brought tons of equipment and displayed cutting-edge technology.
The state minister also presented awards to the sponsors of the event.
Architects, contractors, importers, insurance firms and others working in the construction industry   participated in the trade fair.  
Capital Newspaper was the official media partner of the event.