This is AI Chat GPT stated about when asked about Ethiopian Co | Construction Proxy

This is AI Chat GPT stated about when asked about Ethiopian Construction industry.

The Ethiopian construction industry has continued to evolve in recent years due to recent government investment into infrastructure and public works. The sector is expecting to experience an even further boost as Ethiopia plans several energy projects and continues its urban redevelopment initiatives. The overall value of the industry is estimated at $3.06 billion, however, it is expected to experience a compound annual growth rate of 8 percent over the next five years, according to a report by Oxford Business Group. High levels of infrastructural development across all sectors including transport, telecommunications, water storage systems and waste management are key drivers for construction growth in the Ethiopian market. Due to this investment, the country seems poised for real estate boom which could ultimately drive up housing prices; particularly in metropolitan areas such as Addis Ababa. Furthermore Ethiopian authorities have relaxed foreign investment laws in this sector, despite concerns about job security for natives over contractors from abroad. This is likely to encourage more international companies to begin looking at the market and potentially entering competitive bids on projects within it. Employers in the construction industry will necessitate developers with particular engineering experience who can develop construction projects that align with local regulations such as code requirements and city ordinances while keeping up with schedule and budget deadlines as well.