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

 Ethiopia, Korea Interested in Boosting Trade, Investment Relations

 

ENA November 29/2019 Ethiopia and Korea are interested in scaling up their strong bilateral relations in trade and investment, according to the Ministry of Foreign Affairs.

Ethio-Korea business forum was held in the presence of dozens of Korean business persons and hundreds of Ethiopians in Addis Ababa today.

During the occasion, Foreign Affairs State Minister Aklilu Hailemichael said Ethiopia attaches great importance to its partnership with South Korea in mainly investment, trade and technology transfer.

According to him, the country has got abundant natural resources with a competitive package of incentives to investors who want to engage especially in textile, leather, agro-processing, and pharmaceuticals.

It has also a clear industrialization policy that aims to achieve economic growth through agricultural modernization.

If Korean investors are interested to engage in textile, apparel, renewable energy, information, and communication technology as well as pharmaceuticals, the government will support them to benefit more, Aklilu stated.

Korea’s Ambassador to Ethiopia, Lim Hoon-Min said on his part the two countries have enjoyed an excellent relationship, and this will be further strengthened in areas of trade and investment.

Anchor Korean investors have shown the highest preferences to invest in Ethiopia, the ambassador, said, adding that the sweeping reforms under the leadership of Prime Minister Abiy would be encouraging and Korean investors see the situation positively.

Ethiopia is profitable due to its strategic location, Hoon-Min noted.

Korea exports medicine, electronics, and vehicle to Ethiopia while Ethiopia exports coffee, oilseeds, and sesame.

Source: - 

 Alibaba founder to talk business with Ethiopia

 

Jack Ma, the co-founder and former executive chairman of Alibaba Group, is coming to Ethiopia. According to sources, he is to lead a large business delegation and will be arriving in the capital tomorrow afternoon.

In the capital, he is to meet with Prime Minister Abiy Ahmed (Ph.D.) on Monday morning at Skylight Hotel and on the same day; he is to meet with a number of local startup owners at a round table discussion and have an audience with Minister Getahun Mekuria (Ph.D.) of the Ministry of Innovation and Technology.

Several heads of local startups confirmed to The Reporter, that they were contacted days ago and invited to meet one of the most influential business leaders in the world, with an expanding interest within the African continent that is a latecomer to the concept of startups and free enterprise.

Earlier this year, Minister Getahun met with Jack and discussed ways he and his Alibaba Group could help build the nation's infant digital economy sector.

This followed a visit by Prime Minister Abiy Ahmed (Ph.D.) to the headquarters of Alibaba to discuss investment within Ethiopia earlier this year.

The 55-year-old Chinese entrepreneur, who resigned from his position at Alibaba this year is no stranger to the African continent, making frequent visits to nations such as Rwanda, South Africa, and Ghana, meeting with young entrepreneurs and being the donor of the Africa entrepreneur Prize that grants 1 million USD to young African entrepreneurs with good and practical ideas. 

While Ethiopia is no stranger to the interest of China and Chinese investment, this is to be China's most prominent businessman first official visit to the nation and there is unconfirmed speculations that he might be interested in government-held enterprises as Ethiopia is set to liberalize some of its sought after institutions and look out for foreign investors.

November 23, 2019

Source: - Reporter

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