Abstract The paper in order to discover, the importance of conglomerates in the Ethiopian economy, it primarily examines the significance of conglomerates in the global economy, from historical perspectives and existing reality. Then, specifically, the author studies the role and the contribution of domestic conglomerate in Ethiopia. Next, based on the findings, the paper analyzes the importance of public and private domestic conglomerates in building a crisis protected, a sustainable and robust Ethiopian economy. Furthermore, it exams, the capacity of conglomerates to diversify, to assist, to leverage, to work with government policymakers and private partnership and realizes that conglomerates could have productive relationships with a different sector of the economy like Small Medium Enterprises (SMEs) and the agricultural sector. Plus the author learns conglomerates could have the capacity to generate a joint venture, sale minority stocks in the global market for financial strength. As the study continues the author, finds the importance of big companies for research and development and technology transfer, talent search and start-ups. Hence, with all these possibilities the government of Ethiopia and others have to have a creative way to bring together all forces to work and assist the countries development in unison to compete amicably and coordinate their activities recognizing conglomerates as a pillar of the economy. At the end achieving the nation's economic capacity, improve its global competitiveness; its rank in global market share and prevent economic crises from external factors, contributing to Ethiopia's' sustainable development goal (SDG).