Turkish envoy urges businessmen to invest in EthiopiaTurkey’s ambassadors to Addis Ababa called on his country’s businessmen to follow the privatization program initiated by Ethiopia and invest in the country. In an exclusive interview with Anadolu Agency on the sidelines of the 10th Ambassadors’ Conference in capital Ankara, Fatih Ulusoy said that the African country, which is seen as a closed economy, started a privatization program.

“Turkish businessmen and investors should follow this situation closely,” Ulusoy said. “As embassy, we are always ready to support them,” he added. Ulusoy stated that Ethiopian government has also initiated “e-visa” program for Turkish citizens.
“With this [e-visa] application, Turkish citizens can get Ethiopian visa via Internet without going to consulates,” he said.

Ulusoy added that the e-visa - which will take three working days to process, will also enable businessmen to attend fairs in the country. Emphasizing the importance of trade investments between the two countries, Ulusoy said that Turkey’s investments in Ethiopia in the field of education also continued.

See More at http://fanabc.com/english/2018/08/turkish-envoy-urges-businessmen-to-invest-in-ethiopia/


Manufacturing Remains as Priority in the Govts Economic Policy MinistryThe manufacturing sector will remain a priority in the government’s economic policy to attain Ethiopia’s structural economic change, The Ministry of Industry announced.

Dr. Ambachew Mekonen, Minister of Industry briefed journalists August 16 /2018 on prioritizing the manufacturing industries as a critical sector in enabling Ethiopia to alleviate poverty through viable economic transformation.

According to the minister, Ethiopia has embarked on industrial transformation as a national strategy to ascertain export oriented economy in the country over coming years.

Despite the modest growth of the manufacturing sector at 58 percent by attracting   global manufacturers, the production capacity and export remained far below projection.

Ambachew pointed out drawbacks for the cause of   law production and export, the past three years shortage of foreign currency, raw materials, political instability were the major challenges  the sector has faced.

See More at https://www.ena.et/en/2018/08/16/manufacturing-remains-as-priority-in-the-govts-economic-policy-ministry/


President Reaffirms Ethiopias Commitment to Chinese InvestmentPresident Mulatu Teshome said Ethiopia is committed to assist the engagement of Chinese investors in the country’s industrial development. The president visited today the Eastern Industrial Zone that shelters six factories, including Sansheng Pharmaceutical, East Steel and Huajia Aluminum as well as tissue and shoes factories in the on the outskirts of Addis Ababa.

Mulatu, who noted that the interest and engagement of Chinese companies in Ethiopian industrial sector is growing, said the country is always ready to facilitate the investment environment for the Chinese companies. More Chinese companies are expressing interest to invest in Ethiopia as the country has resources and market, President Mulatu stated.

According to him, Chinese investment in the industrial sector has initiated fast economic growth and enabled Ethiopia to bring about economic change through high tech manufacturing industries. Speaking about the Eastern Industrial Zone, the president appreciated the performance of the industries which have been effectively manufacturing various products.



PM Dr Abiy visits industrial parksPrime Minister Dr Abiy Ahmed visited industrial parks and coffee farms. He visited the operational eastern industrial zone in Dukem, the new industrial park in Jimma as well as coffee forests around Jimma and Bonga on 13 August 2018.

The visit is aimed at encouraging and supporting investors who seek to create real value, said Fitsum Arega, Chief of Staff at the Prime Minister’s Office. “The private sector is our main partner as we build a more dynamic economy,” Fitsum said on Twitter.

Jimma industrial park is under construction at a cost of 61 million US dollars, according to government communications affairs office of the city of Jimma. Construction of the first phase of the park has reached over 93 percent, the office added.


Flag carriers five star hotel to go operational soonThe first phase of the Ethiopian Airlines five star hotel that is under construction will be completed and start operation within two months time, the  Airlines Group CEO Mr. Tewolde Gebremariam announced.

The group CEO said when the first phase of the hotel begins service ,it can accommodate 373 cozy rooms, which makes it the leading hotel in the country.   the hotel has two objectives, which is accommodating transit passengers and promote stop over tourism, he added.
Meanwhile, the national flag carrier, Ethiopian Airlines  disclosed that it has earned a record net profit of 6.8 billion Birr (233 million USD) in the past 2017/2018 fiscal year.

it was learnt that the airline opened eight new international destinations and 14 new aircrafts which makes it 100th aircraft in service milestone during the year.  it has also transported a record 10.6 million passengers to more than 116 destinations in international and domestic flights.

Moreover, the airline announced that as part of its allegiance to African aerospace industry it has acquired a 49 percent share of Guinea and Chad airlines and 45 percent of the Zambian airline while takeover the overall management of Malawi, Equatorial Guinea and Mozambique airlines.

See More at http://ethpress.gov.et/herald/index.php/news/national-news/item/12639-flag-carrier-s-five-star-hotel-to-go-operational-soon