Ethiopia has secured 500 million USD from Foreign Direct Investment (FDI) in the past three months, Commissioner Lelise Neme told journalists.

The foreign companies are mainly engaged in the manufacturing, agriculture, and service sectors, the Commissioner said.

She further stated that the commission has been striving hard to attract more FDI to the country despite the challenges of Covid-19 and instability in some parts of the country.

Ethiopia was also able to ease the impact of COVID-19 on the investment sector by facilitating ways for the companies to engage in other types of products vital to prevent COVID-19, she said.

Several manufacturing companies have now producing face-masks, gloves, and COVDI-19 testing kits that helped the sector to shoulder the impact of the pandemic.

Furthermore, the Investment Commission is working to intensify investments in the newly inaugurated industrial parks.

See More at https://www.ena.et/en/?p=17726

Prime Minister Abiy Ahmed visited today Gorgora, one of the three prospective tourist attractions to be developed under the “Dine for the Nation” initiative. 

The premier had established a national committee that mobilizes funds for the development of the tourist attraction sites in Amhara, Oromia, and Southern Nation Nationality and People’s states.

Gorgora, which is located south of the ancient city Gondar and Lake Tana in the north, was selected from the Amhara region for development. Wonchi, in the Oromia region, with a legacy of once-powerful volcanoes, hot springs, and waterfalls, where a crater lake is “a piece of paradise”; and Koysha, uniquely situated in the green hills and lush forests of the Southern region.

Abiy is accompanied by the Federal and Regional senior government officials. The premier was warmly welcomed by the residents of Gorgora town on arrival.

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Ethiopian Prime Minister Abiy Ahmed inaugurates Bahir Dar Industrial Park built at 75 ha of land comprising eight factory sheds.

The inauguration ceremony has been attended by the Ethiopian Investment Commission Commissioner, Lelise Neme, and high government officials including Minister of Foreign Affairs, Gedu Andargachew, among others. All the sheds are fully occupied and will go operational soon, the Prime Minister said.

“Enhancing the manufacturing sector is one of the key pillars of our Home Grown Economic Reform unveiled in 2019.” the premier stressed, adding “Hence the expansion of such parks will facilitate our industrial development goals together with the enabling environment we are working to create for investments.”

The industrial park can serve as a recreational and research site for students and academics in the area in addition to its significance as a job creation hub.

Prime Minister Abiy said the Country has completed the construction of all thirteen industrial parks which were under construction across the nation. The premier underlined that the industrial parks will be integrated with agro-processing in a view to modernizing the agricultural sector.

Bahir Dar Industrial park has finalized screening works to create jobs for more than 4,000 individuals and will engage 10,000 more manpower when it goes fully operational in two shifts.

And, it is expected to double job opportunities when the second phase of its working sheds is completed. People who are displaced from the area due to the development of the park are given priority in the job opportunities, Africa Business Networking reported quoting FBC.

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Foreign investors are currently receiving a briefing on the ‘Dine for Nation’ project. ‘Dine for Nation’ is a fundraising program to finance Wonchi, Gorgora, and Koysha projects. It aims to raise 3 billion birrs.

Gorgora located in the south of Gondar on the north shore of Lake Tana, in the Amhara region; Wonchi, in the Oromia region, with a legacy of once-powerful volcanoes, hot springs, and waterfalls, where a crater lake is “a piece of paradise”; and Koysha, uniquely situated in the green hills and lush forests of the Southern region.

With the Koysha hydropower plant in progress and the Chebera Churchura National Park in proximity, the new integrated eco-project in Koysha aims to enhance existing endowments and create a service industry and jobs in the area.

On the briefing, Ethiopian officials gave details about the projects, including their importance for tourism and to create job opportunities. The officials on the occasion called on the investors to support the projects. The three projects are expected to create jobs for the local communities, drive tourism, and create service economies.

Read More at https://www.fanabc.com/english/foreign-investors-receive-briefing-on-dine-for-nation-project/