The economy of Eritrea has undergone extreme changes after the War of Independence. It experienced considerable growth in recent years, indicated by an improvement in gross domestic product in 2011 of 8.7 percent and in 2012 of 7.5% over 2011, and has a total of $8.090 billion as of 2020. However, worker remittances from abroad are estimated to account for 32 percent of gross domestic product.
Mengistu Haile Mariam is an Ethiopian former politician and former army officer who was the head of state of Ethiopia from 1977 to 1991 and General Secretary of the Workers' Party of Ethiopia from 1984 to 1991. He was the chairman of the Derg, the socialist military junta that governed Ethiopia, from 1977 to 1987, and the president of the People's Democratic Republic of Ethiopia (PDRE) from 1987 to 1991.
A state-owned enterprise (SOE) is a government entity which is established or nationalised by a national or provincial government, by an executive order or an act of legislation, in order to earn profit for the government, control monopoly of the private sector entities, provide products and services to citizens at a lower price, implement government policies, and/or to deliver products & services to the remote locations of the country. The national government or provincial government has majority ownership over these state owned enterprises. These state owned enterprises are also known as public sector undertakings in some countries. Defining characteristics of SOEs are their distinct legal form and possession of financial goals and developmental objectives. SOEs are government entities established to pursue financial objectives and developmental goals.
State ownership, also called public ownership or government ownership, is the ownership of an industry, asset, property, or enterprise by the national government of a country or state, or a public body representing a community, as opposed to an individual or private party. Public ownership specifically refers to industries selling goods and services to consumers and differs from public goods and government services financed out of a government's general budget. Public ownership can take place at the national, regional, local, or municipal levels of government; or can refer to non-governmental public ownership vested in autonomous public enterprises. Public ownership is one of the three major forms of property ownership, differentiated from private, collective/cooperative, and common ownership.
The Derg, officially the Provisional Military Administrative Council (PMAC), was the Marxist–Leninist military dictatorship that ruled Ethiopia, then including present-day Eritrea, from 1974 to 1987, when the military leadership or junta formally "civilianized" the administration but stayed in power until 1991.
The People's Democratic Republic of Ethiopia was a socialist state that existed in Ethiopia and present-day Eritrea from 1987 to 1991.
Đổi Mới is the name given to the economic reforms initiated in Vietnam in 1986 with the goal of creating a "socialist-oriented market economy". The term đổi mới itself is a general term with wide use in the Vietnamese language meaning "innovate" or "renovate". However, the Đổi Mới Policy refers specifically to these reforms that sought to transition Vietnam from a command economy to a socialist-oriented market economy.
Reprivatization refers to the process of restoring properties seized or otherwise nationalized from privately held owners by a government to privately held status. This may include returning seized property or compensating uncompensated former owners, or reprivatizing state held enterprises to new owners, especially banks, which were privately founded but came under state control due to economic crisis or other factors. The latter scenario is sometimes referred to as privatization, though scholars have specifically referred to the sale of nationalized Mexican and Korean banks to private shareholders as reprivatization. The terms reprivatization and privatization are sometimes used to describe similar processes. The term privatization is more often used to describe the transfer of property under long-term government control to private owners, while reprivatization implies the property being returned to privately held status came under government control on a circumstantial basis. Both terms have been used in connection with larger privatization schemes in the former Soviet Bloc, particularly the process of assigning new property rights.
The economic history of the Republic of Turkey had four eras or periods. The first era had the development policy emphasizing private accumulation between 1923 and 1929. The second era had the development policy emphasized state accumulation in a period of global crises between 1929 and 1945. The third era was state-guided industrialization based on import-substituting protectionism between 1950 and 1980. The final, era was the opening of the economy to liberal trade in goods, services and financial market transactions since 1981.
Industry is 39.4% of China's gross domestic product (GDP) in 2022. In 2007, industry contributed 46.7 percent of GDP in 2010 and occupied 27 percent of the workforce. In 2015, the manufacturing industrial sectors contributed to 40% of China's GDP. The manufacturing sector produced 44.1 percent of GDP in 2004 and accounted for 11.3 percent of total employment in 2006.
Manufacturing in Ethiopia was, before 1957, dominated by cottage and handicraft industries which met most of the population's needs for manufactured goods such as clothes, ceramics, machine tools, and leather goods. Various factors – including the lack of basic infrastructure, the dearth of private and public investment, and the lack of any consistent public policy aimed at promoting industrial development – contributed to the insignificance of manufacturing.
The problem of land reform in Ethiopia has hampered that country's economic development throughout the late 19th and 20th centuries. Attempts to modernize land ownership by giving title either to the peasants who till the soil, or to large-scale farming programs, have been tried under imperial rulers like Emperor Haile Selassie, and under Marxist regimes like the Derg, with mixed results. The present Constitution of Ethiopia, which was put into force January 1995, vests land ownership exclusively "in the State and in the peoples of Ethiopia." The relevant section continues, "Land is a common property of the Nations, Nationalities and Peoples of Ethiopia and shall not be subject to sale or to other means of exchange." Despite these different approaches to land reform, Ethiopia still faces issues of sustainable food self-sufficiency.
The New Economic Policy (NEP) was an economic policy of the Soviet Union proposed by Vladimir Lenin in 1921 as a temporary expedient. Lenin characterized the NEP in 1922 as an economic system that would include "a free market and capitalism, both subject to state control", while socialized state enterprises would operate on "a profit basis".
The Development Bank of Ethiopia (DBE) is a specialized state-owned development financial institution, which is supervised by the Public Financial Enterprises Agency in Ethiopia.
Villagization was a land reform and resettlement program in Ethiopia implemented by the Derg in 1985 that aimed to systematize and regulate village life and rural agriculture. Villagization typically involved the relocation of rural communities or nomadic groups to planned villages with communal farmland.
The Foreign Investment Law is a law of the People's Republic of China governing foreign direct investment in China. The law was adopted by the National People's Congress on March 15, 2019, and came into effect on January 1, 2020. It replaces the Law of the People's Republic of China on Sino-Foreign Equity Joint Ventures, the Law of the People's Republic of China on Wholly Foreign-owned Enterprises, and the Law of the People's Republic of China on Sino-Foreign Cooperative Joint Ventures.
Manufacturing in Sudan remains a relatively small sector of the economy, accounting for 11.75% of GDP as of 2019 according to the World Bank. Manufacturing in Sudan has a long history, with many forms of industry being attempted since World War II. Growth has been more consistent in the 21st century than previously.
The fall of the Derg, also known as Downfall of the Derg, was a military campaign that resulted in the defeat of the ruling Marxist–Leninist military junta, the Derg, by the rebel coalition Ethiopian People's Revolutionary Democratic Front (EPRDF) on 28 May 1991 in Addis Ababa, ending the Ethiopian Civil War. The Derg took power after deposing Emperor Haile Selassie and the Solomonic dynasty, an imperial dynasty of Ethiopia that began in 1270. The Derg suffered from insurgency with different factions, and separatist rebel groups since their early rule, beginning with the Ethiopian Civil War. The 1983–1985 famine, the Red Terror, and resettlement and villagization made the Derg unpopular with the majority of Ethiopians tending to support insurgent groups like the Tigray People's Liberation Front (TPLF) and Eritrean People's Liberation Front (EPLF).
The government of the Derg consisted of Unitary Marxist-Leninist one-party system with communist and later socialist ideology. Opposing feudal system of Ethiopia, the Derg abolished land tenure in March 1975 and began sweeping land reform under Land Reform Proclamation. All means of goods have been therefore nationalized by the regime including housing, land, farms, and industry.
The banking sector of Ethiopia composed of the central bank, the National Bank of Ethiopia (NBE), which is state owned and sixteen private banks. By 2020, the NBE planned to increase the minimum capital for banks to operate to 2 billion birr and instructed all commercial banks to increase their capital. Foreign banks did not allow to provide service in Ethiopia, instead use medium term as the government of Prime Minister Abiy Ahmed pursues wide economic reforms.
