Eritrea must not underestimate ‘the primitive economy’, president says
Leather production is one of a number of sectors in which the long-standing president of Eritrea, Isaias Afwerki, would like to see activity, investment and growth, even though he views the industry as being part of “the primitive economy”.
Laying out plans for development of Eritrea’s economy earlier this year, Mr Afwerki said pastoralism generated a substantial proportion of the east African country’s revenues and required investment to add value and reach its “full latent potential”. He said this included leather manufacturing and the production of meat and dairy products.
He said he viewed all of these sectors as part of “the primitive economy”, but insisted Eritrea should not underestimate them.
The president said that many conversations around investment in Eritrea seemed to him to centre on hotels, restaurants and bars. He described such projects as being “all very well”, but only a very small part of what is truly required for the economy to develop.
