Construction of 7 Industrial Parks to be Completed this YearConstruction of seven industrial parks being built around the country is anticipated to be completed in this Ethiopian fiscal year, according to Industrial Parks Development Corporation.

Ethiopia is developing international standardized industrial parks across the country which in turn contributes to nation’s development endeavors.

The industrial parks in Dire Dawa, Kilinto, Bole Lemi II, Jimma, Bahir Dar and Debre Birhan are expected to be complete in this Ethiopian fiscal year, doctor Arkebe Equbay, Board Chairperson of IPDC said.

Arkebe said the government is committed to develop such parks that will contribute to the country’s aspiration of becoming industrial hub, earn foreign currency and create massive job opportunities.

Besides completing the ongoing projects, the government will launch construction of industrial parks in Aysha, Asosa, Ararti, and Semera, he added.

Hawassa, Bole Lemi I, Kombolcha and Mekele industrial parks are already started production and the Adama industrial park inaugurated recently is expected to commence operation soon.

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President Says Govt Will Invigorate Economic ReformThe Ethiopian government will implement the necessary economic policy reforms to ensure sustainable economic growth, President Mulatu Teshome said.  

 The president made a keynote address to the joint session of the House of People’s Representatives and the House of Federation marking a new parliamentary year.

The two Houses, which were in recess for the past three months, have begun their fourth year of parliamentary sessions.

Opening the session, President Mulatu Teshome said the government will implement economic policy reforms that enable the country to continue with its sustainable economic growth.

He added that the government will strive to create inclusive economic development that enhances the engagement of the private sector and the youth.

According to him, exerting greater emphasis on creating jobs for the youth that covers over 65 percent of the overall population will be the major agenda of the economic reform.

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Tunisian Businessmen Exploring Possibilities of Investing in EthiopiaAddis Ababa Chamber of Commerce and Sectoral Associations (AACCSA) and the Tunisian Chamber of Commerce and Industry held business-to-business meeting in Addis Ababa.

The Tunisian delegation comprised of high officials and representatives of 40 companies engaged in agro-processing and industry.

Tunisian Chamber President, Nejib Mell said the delegation came to explore the scope of partnership in trade and investment. The companies are interested in finding partners which would intensify the economic cooperation between the two countries, he added.

AACCSA Deputy Secretary General, Shibeshi Bettemariam said on his part Ethiopia has a great place for prospective business partners and investors.

He called into attention the booming construction, infrastructure, agro-processing and manufacturing sectors as well as the lucrative incentives such as 5 year tax holiday, cheap electricity and labor as attractive opportunities. Representative of the Tunisian Andalusian White Cement Company, Ahmed Ben Abdullah said the construction boom in Ethiopia has attracted his company to visit the country.

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Presidents Mulatu Erdogan Agree to Strengthen Trade Investment TiesTurkish President Recep Tayyip Erdogan said his country will undertake activities that would help to further expand its investment in Ethiopia.

President Mulatu Teshome and his Turkish counterpart Recep Tayyip Erdogan have discussed about the all-round relationship between the two countries.

During the discussion, President Erdogan said that the country has been carrying out activities that enable to strengthen its trade and investment ties with Ethiopia.

This will be created a situation whereby new Turkish companies and investors will channel their capital to Ethiopia, he revealed.

He also said that the engagement of Turkish companies in Ethiopia would help accelerate the country’s journey to industrialization further enabling to benchmark technologies and other experiences.

President Mulatu said on his part Ethiopia will continue working in strengthening its strategic relationship with Turkey, according to Office of the President.

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Ethiopian PM inaugurates Adama Industrial ParkEthiopian Prime Minister Abiy Ahmed on Sunday inaugurated Adama industrial park, located 74 km southeast of Ethiopia's capital, Addis Ababa. The industrial park, built by China Civil Engineering Construction Company, is part of the Ethiopian government's grand plan to transform the country's largely agrarian economy into an industrialized one by 2025.

Covering 100 ha of land and built at a cost of around 146 million U.S. dollars, Adama industrial park is expected to create job opportunities for around 25,000 Ethiopians. The industrial park, designed and built with international standards, has integrated facilities including clinics, fire services, a market center, a bank, cafes, and exhibition facilities.

"The inauguration of the Adama Industrial Park is crucial to meeting the industrialization needs of Ethiopia and fulfilling the employment and human resources development of our higher education graduates," prime minister Ahmed told the inauguration ceremony. Ahmed said that with his administration's political reforms undertaken since April almost complete, the focus from now on will be to meet the economic needs of the country's estimated 105 million citizens.

Emphasizing the Adama industrial park's strategic location, Ahmed said its close proximity to the Chinese-built 756 km Ethiopia-Djibouti electrified rail line and the 99 km Addis-Adama toll expressway will ensure that the industrial park will be a successful addition to the country's manufacturing ambitions.