Volkswagen develops automotive industry in EthiopiaVolkswagen brand expands its business in Sub-Saharan Africa by signing a Memorandum of Understanding (MoU) with Ethiopia

Volkswagen brand continues its engagement in emerging countries in Sub-Saharan Africa. In the presence of Frank-Walter Steinmeier, President of the Federal Republic of Germany, a Memorandum of Understanding (MoU) was signed by Thomas Schaefer, Head of the Volkswagen Sub-Saharan Africa Region, and the Commissioner of the Ethiopian Investment Commission (EIC), Abebe Abebayehu, today. Thereby, Volkswagen is taking the fast development of the country into account.

Over the last ten years, the GDP growth rate in Ethiopia was above 8 percent – one of the highest worldwide. Moreover, Ethiopia is a priority and focus country for Germany under the G20-“Compact with Africa” initiative.

Volkswagen will focus on four key pillars: the establishment of a vehicle assembly facility, localization of automotive components, introduction of mobility concepts such as app-based car sharing and ride hailing as well as the opening of a training center. As such, Volkswagen will work closely with the Ethiopian higher education and training institutions for skills development and capacity building of local talent.

Schaefer commented: “As one of the fastest growing economies and with the second highest population in the continent, Ethiopia is an ideal country to advance our Sub-Saharan Africa development strategy. Additionally, Volkswagen intends on tapping into existing expertise and strategic resources in Ethiopian to help to establish a thriving automotive components industry.”

SOURCE: Volkswagen

PM Dr Abiy Inaugurates Bole Airport Terminal Expansion and 5 Star Hotel ProjectsPrime Minister Dr Abiy Ahmed today inaugurated both Ethiopian Airlines’ (Ethiopian) state-of-the-art Addis Ababa Bole Airport Terminal expansion and 5-star Skylight Hotel project.

The Addis Ababa Bole International Airport passenger terminal expansion project was built at a cost of 363 million US dollars on 74,000 square meters of land.

The Prime Minister on the occasion said “Ethiopian Airlines is the pride of Ethiopia as it embodies the philosophy of Medemer.”

Emphasizing the greatness of the airline rests in the synergistic work of all members of the organization, he called upon staff members to take their ownership to another level by buying into shares of the airline.

He further affirmed the support of his administration to further strengthening the airline, according to Office of the Prime Minister.

Group Chief Executive Officer (CEO) Ethiopian Airlines, Tewolde Gebremariam for his part said that the expansion will raise passengers handling capacity of the airlines to 25 million per year.

The Premier also inaugurated Ethiopian Airlines’ 5-star Skylight Hotel project built at a cost of 65 million US dollars. Ethiopian Skylight Hotel is located five minutes from Addis Ababa Bole International Airport.

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PM Abiy Met with Bill Gates Jack Ma12Prime Minister Abiy Ahmed met and discussed with Bill Gates and Jack Ma on the sidelines of the World Economic Forum being held in Davos, Switzerland.

Premier Abiy expressed his gratitude to Gates for the works of Bill and Melinda Gates Foundation in health, agriculture and state capacity building.

Prime Minister Abiy Ahmed and Bill Gates agreed to enhance cooperation in agriculture irrigation and technology sector, according to Office of the Prime Minister.

Similarly, Abiy met with Jack Ma, Chairman of the Alibaba Group and had productive discussion about the future of disruptive technologies on markets and society.

During the discussion, Jack Ma agreed to consider potential investment in technology city in Ethiopia that will impact the daily lives of the people in the region.

PM Abiy Met with Bill Gates Jack MaSource- ENA

Ethiopia to host World Economic Forum in 2020The World Economic Forum (WEF) in 2020 will be hosted in Ethiopia, as the Eastern African nation hopes to attract more investment.

The announcement was made following a meeting between Ethiopia’s prime minister, Abiy Ahmed and Prof Klaus Schwab, Founder and Executive Chairman of WEF.

The office of the prime minister said the two leaders discussed the importance of a collaborative approach among government, private sector and civil societies in addressing key global challenges.

Abiy attended the WEF 2019 meeting held in Davos, Switzerland, where he met several business leaders before heading to Belgium.

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Abay Industrial Development SC. to build cement plant with 8.8 bln birrAbay Industrial Development Share Company has signed agreements Chinese Hengyuan Group and Danish FLSmidth combines to build a cement plant in Dejen town, Amhara regional state, at a cost of 8.8 billion birr.

Once completed within 24 months, the plant will have a cement production capacity of 5,000 tonnes per day, according to a report by the Amhara Mass Media Agency (AMMA).

The cement plant will create jobs for 655 people with the possibility to increase to 1,000 when it starts production with its full capacity.

Deputy Prime Minister Demeke Mekonnen and Chief Administrator of Amhara regional state, Gedu Andargachew, including Chairperson of board of directors of Abay Industrial Development Share Company, Melaku Alebel, attended the signing ceremony held at the Sheraton Addis.