Draft regulation Key to impelling development administration of industrial parks 1Recently, the Ethiopian Investment Commission has prepared a draft industrial parks regulation and tabled it for discussion, which enables investors to get access to a one-stop shop service at industrial parks. The commission aims at expanding industrial parks, accelerating the growth of the manufacturing sector and supplying superior quality infrastructures at the parks.

The draft regulation, which is expected to be endorsed by the Council of Ministers within a month, will let investors focus only on production alone as well as to acquire favorable and cost-effective banking, customs, labor and social affairs, telecom and other related services within the park.

The regulation would also bring together government service delivery institutions scattered at various locations so that they can conveniently serve investors. It will also assist them to carry off and develop industrial parks, establish monitoring systems, and ensure the responsibility and accountability of individuals or companies working in the industrial parks.

Certainly, the development of industrial parks is crucial to speed up the economic growth of the country through promoting and attracting investors as well as creating job opportunities. Recognizing the fact, the nation plans to build 10 industrial parks in the Second Growth and Transformation Plan (GTP-II).

Currently, more than ten industrial parks are on operational while other 10 parks are being built in various parts of the nation in a bid to transform its agriculture based economy into manufacturing one by 2025.

Read more at http://www.ethpress.gov.et/herald/index.php/editorial-view-point/item/7678-draft-regulation-key-to-impelling-development-administration-of-industrial-parks

 

Agro Processing Industrial Park to be constructed in HumeraAddis Ababa  February  21/2017  The Humera integrated agro-industrial park, the second of its kind in the country, officially launched today by Prime Minister Halemariam Desalegn.

This is part of the country's initiative to develop agro-processing parks which enable the nation to process agricultural products with the aim of exporting value added items. In his remark, the Premier said that the agro-processing park will enable the country to value add to its livestock, fruits and vegetables, cereal and oilseed products that has been exported mostly as unprocessed.

The nation that has been exporting raw agricultural products and the farmers who supply the products as well have been suffering from low returns, Hailemariam said. These kind of industrial parks are expected to address this challenge and facilitates the way towards economic transformation, he added.

Dr Mebrehatu Meles, State Minister of Industry on his part said the park which will contain 120 medium industries, is expected to employ 779,000 individuals. Up on fully operational, the Humera integrated agro industrial park will produce 700,000 tons of processed products thereby enable the nation earn 18 billion Birr in revenue per year, he added.

To maximize the benefit from the agrarian nature of the country's economy, the government does not intend to export unprocessed primary commodities like sesame, coffee, livestock and oilseeds as well as fruits and vegetables. To make this real, the East African nation has started investing in agro processing parks with an objective of exporting value added products, improving the benefits of the farmers and developing the sector.

 

aiib asian infrastructure investment bank logo 150415

About 25 African, European and South American countries are set to join the China-led Asian Infrastructure Investment Bank this year, reinforcing Beijing's determination to push a global agenda even as US president Donald Trump rails against the ills of economic globalization.

Jin Liqun, president of the AIIB, said on Monday that an expanded membership would help boost lending by the $100bn multilateral organization, which was created last year with 57 founding shareholders in spite of opposition from the US. "Now that China has developed, it is our turn to contribute," Mr. Jin said in an interview. "China needs to do something that can help it be recognized as a responsible leader."

Ireland, Canada, Ethiopia, and Sudan are understood to be among the 25 countries expected to join this year, with several likely to be inducted at the bank's annual meeting in June.

The AIIB is keeping its door open to the US, which criticized the UK's "constant accommodation" of China when London announced in 2015 that it would join. (read the full article here)

Source: ft.com

 

 

EIC prepares draft regulation to provide one stop shop at industrial parksAddis Ababa, February 20, 2017 (FBC) – The Ethiopian Investment Commission (EIC) has prepared a draft regulation which enables to provide a one-stop shop at industrial parks. Stakeholders today held a discussion on the regulation that is aimed at expanding industrial parks, accelerating the growth of the manufacturing sector and supplying quality infrastructures. 

It is expected to be approved within a month. “The draft regulation will allow investors to focus only on production as well as to get convenient and efficient banking, costume, labor and social, telecom and other related services within the park,” Fitsum Arega, Commissioner of the Ethiopian Investment Commission told FBC. 

It is to be recalled that Ethiopia had approved Industrial Parks Proclamation in 2015 so as to ensure a proper management of the industrial parks. According to the proclamation, industrial parks can be developed by any profit-making public, public-private or private enterprise. 

The investment is open to national, domestic and foreign investors. The industrial parks developers are entitled to develop their own industrial parks, either independently or through public-private in partnership with the Industrial Parks Development Corporation (IPDC) of Ethiopia.

Read more at: http://www.fanabc.com/english/index.php/news/item/8193-commission-prepares-draft-regulation-to-provide-one-stop-shop-at-industrial-parks

 

Fitsum Arega Ethiopian Investment Agency Director GeneralThe Ethiopian Investment Commission says Ethiopia has managed to attract anchor companies during the first six months of the current Ethiopian budget year (2016-2017) despite being under a state of emergency.

Commissioner Fitsum Arega told the Ethiopian News Agency that ten major Chinese companies have decided to invest in Ethiopia, half of them licensed in textile and garment manufacturing industries. They include Jiangsu Sunshine Group which engages in wool textiles and garments, biological pharmacy, real estate, energy, thermal electricity, IT industry, and others businesses in China and internationally, and has decided to invest in Ethiopia with close to US$1 billion.

The Commissioner said this decision clearly showed Ethiopia remained a favorable investment destination for anchor companies, with China the leading country in terms of capital and engagement in the manufacturing industry, and India second during the first half year. He said the Government's ongoing direction was not focusing on increasing the number of participants coming as investors but rather aiming to attract "giant, effective companies which could meet the targets of both the company and the country".

The Commission had, therefore, changed its way of licensing projects, giving priority to those companies with a high profile and which would change the projects into action. He underlined that the peace and stability which continued to prevail in the country, ongoing infrastructure development including railway, road, and energy developments were among the attractions. Other factors were a trainable workforce, competitive wages, a fast growing economy, strong government support from the government, and a favorable investment climate.

Read more at http://www.mfa.gov.et/web/guest/-/ethiopia-continues-to-attract-foreign-investment