Eritrean President Visits Adama Industrial Park

 

ENA, December 26/2019 Eritrean President, Isaias Afewerki, on his second day in Ethiopia visited Adama Industrial Park today.

Upon arrival in Adama city, the president accorded a warm welcome by Deputy Chief Administrator of Oromia Regional State, Shimelis Abdisa, and other senior regional officials.

Adama Industrial park is situated in Adama city, Oromia Regional State, which is about 100 kilometers southeast of Addis Ababa.

The park is one of the giant industrial parks that Ethiopia has been building across the nation over the past few years.

The scope of the Park is textile, apparel, vehicle assembly, and food processing cluster.

It is to be recalled President Isaias also visited yesterday together with Prime Minister Abiy the beautifying Sheger project and Entoto observatory and research center.

Source: - ENA

Forum Held in China to Promote Ethiopia’s Industrial Parks

ENA, December 26/2019 Ethiopia Investment Commission and the Industrial Park Development Corporation in association with Ethiopia’s Mission in China held an investment promotion forum in Beijing, China.

The forum was held on Tuesday under the theme “Ethiopian Industrial Production Capacity Forum”, according to Ethiopian Embassy in China.

The forum aimed at promoting the industrial parks in Ethiopia to Chinese potential investors in order to facilitate them to explore investment opportunities in the country.

It was mainly organized to introduce Bole Lemi II and Klinto Industrial Park to prospective investors from China and attract Foreign Direct Investment in the fields of Pharmaceuticals and Textile.

Ethiopia with a plan to be the leading manufacturing hub of Africa by 2025, has about 12 industrial parks, over 7 are operating while the rest are under construction.

China-Ethiopia Industrial Exhibition was also held two months ago in Addis Ababa Exhibition Center, to enhance cooperation and building the capacity of Ethiopian industrialists by creating a platform through which Chinese entrepreneurs and their counterparts could exchange business ideas.

Source: - ENA

 CCECC to Build Industrial Park in Dire Dawa

 

Addis Ababa, December 24, 2019 (FBC) -China Civil Engineering Construction Corporation (CCECC) is to build its own industrial park in Dira Dawa city administration.

CEO of CCECC and deputy mayor of Dire Dawa, Ahmed Buh, signed the agreement for the industrial park that will be built on 370 hectares of land in the first phase, according to Dire Dawa mayor office.

CCECC has a plan to build the industrial park on a total of 1,000 hectares of land around Melka Jebdu and bring investors from Kunshan, one of the cities in southern China.

Construction of the park, which will be commenced soon, is expected to create employment opportunities for residents of the area.

Ahmed finally called on residents and pertinent government officials to contribute their share for the success of the plan.

Source: - Fana broadcasting

 Ethio-Saudi Arabia Investment Forum Held in Addis Ababa

 

Addis Ababa, December 19, 2019 (FBC) -The Ethio-Saudi Arabia Joint Trade and Investment Forum held yesterday in Addis Ababa.

Remarking at the event, Ambassador Dawano Kedir urged the Saudi Arabian companies to invest in the manufacturing sectors in Ethiopia.

Sami Jamil Abdullah, Ambassador of the Royal Kingdom of Saudi Arabia to Ethiopia reiterated Saudi Arabia’s interest to extensively engage in various investments in Ethiopia.

The forum was an extension to the business forum the two countries have held last week in Addis Ababa aiming at enhancing the flow of trade and investment between Ethiopia and Saudi Arabia.

Source: - Fana broadcasting corporate

Ethiopia Attracts $700m in First Quarter

Addis Ababa, December 19, 2019 (FBC) –Ethiopia has attracted more than $700 million foreign direct investment (FDI) in the first quarter of this fiscal year.

This was revealed by the Ethiopian Investment Commission (EIC) at a consultative forum opened in the city of Harar today, Dec.19.

Licenses were also issued for 2,700 investors with a combined capital of more than 50 billion birr in all regional states and two city administrations, said Neway Tedla, planning and evaluation director at the commission.

First-quarter exports from nine industrial parks generated over $47.4 million, an 88% increase compared to the same period the previous Ethiopia fiscal year, he said.

During the event, instability in some parts of the country, as well as shortage of foreign currencies and power, were mentioned as the major challenges facing the investment sector.

Anteneh Alemu, Deputy Commissioner of the Ethiopian Investment Commission, shared the concern of the participants and said the instability affected the investment climate negatively.

He stated efforts are underway to attract potential investors, provide efficient services and better respond to the concern of investors by designing strategies and policies.

Source: - Fana broadcasting corporate

UK Envoy Discuses Investment Opportunities with Ethiopian Officials

 

Addis Ababa, December 18, 2019 (FBC) – The UK Envoy for the UK-Africa Investment Summit, Philip Parham held talks with Ethiopian officials here today.

He met with Dr. Aklilu Hailemichael State Minister of Foreign Affairs, Dr.Seleshi Bekele, Minister of Water, Irrigation and Energy, and Abebe Abebayehu Ethiopian Investment Commissioner to discuss investment opportunities and increasing trade between Ethiopia and the UK.

During his meeting with Dr. Aklilu, the two exchanged views on the UK-Africa Investment Summit, scheduled to take place in London on 20 January 2020.

Parham said the Summit will bring together political leaders, business representatives, and investors from the UK and African countries.

He further said the event will create partnerships that will deliver more exports, jobs and economic growth, of benefit to both the Ethiopian and British economies.

The Envoy invited Ethiopia to participate at the summit.

Dr Aklilu for his part said such kinds of summit would play a key role to tackle investment barriers and increase investments.

The State Minister briefed the UK Envoy about the conducive investment opportunities and invited more UK investors to invest in Ethiopia.

The UK Envoy also held discussion with Dr. Seleshi Bekele, on opportunities to invest in renewable energy in Ethiopia.

The discussion with Abebe Abebayehu, Commissioner of the Ethiopian Investment Commissioner focused on potential investment opportunities between Ethiopia and the UK.

“Ethiopia is one of the fastest-growing economies in the region presenting an exciting opportunity for investment,” he said.

Source: - Fana broadcasting corporate

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