news diplomacy1Ethiopia's economic diplomacy has made the country a desirable investment destination, disclosed the Ministry of Foreign Affairs (MoFA).

According to MoFA Spokesperson, Ambassador Dina Mufti, the current diplomacy of the country unlike in the past regimes is economic centered.

Ethiopia's diplomacy was framed 20 years ago in such a way as to support the country's efforts to extricate itself from poverty, he said.

Ethiopia's diplomacy is guided not by ideological affiliation to states and parties but based on the economic benefits that emanate from the relationship, said Ambassador Dina.

Activities have been underway to strengthen relations with countries, educational institutions, governmental and non- governmental organizations, and the mass media, he indicated.

Instead of categorizing states by their ideological orientation as in the past, the current diplomacy of the country focuses on the benefits it can get from export, investment, tourism, technology transfer, development assistance and aid, he added.

The trade and investment relation which was only limited to China, India and other Eastern countries has now expanded to European countries, the US, Australia and South American countries, Ambassador Dina disclosed.

The recently held Ethiopian ambassadors, consul- generals and directors' summit has also set directions on how to further bolster the economic diplomacy, he stated.

Supporting activities with technology, creating skilled manpower, modernization and mobilizing the Diaspora were also the major areas of focus.

MoFA Business Diplomacy Director-General Kebede Abera on his part said the Ministry is working in collaboration with various stakeholders, including Ethiopian Investment Agency and Ethiopian Chamber of Commerce and Sectorial Association, to consolidate the efforts to attract foreign direct investment.

Kebede pointed out that the coming of various world leaders to the country accompanied with investors attests to the success of the diplomatic efforts.
The director- general said the number of foreign investors who came to Ethiopia for feasibility study was 365 in 2005 E.C. The number grew to more than 1,000 in 2006 E.C.

The realization that they can make profit in Ethiopia and the country's growing say in continental and global forums are the factors for the growth, according to the director-general.

Source: ENA

Ethiopian Investment Commission hails promising performance of FDI in the country.

news FDIperfThe Ethiopian Investment Commission (EIC) has issued new investment licenses to 667 foreign investment projects during the last Ethiopian year (from July 07, 2013 to June 08, 2014 GC).

The projects are expected to create employment opportunities for an estimated 42,868 Ethiopians when they become fully operational.
According to the Commission’s 2013/14 annual official report, 264 projects in operational have already succeeded in creating employment opportunities for 20,683 citizens.

The Commission report indicates that though the Ethiopian government basically encourages FDI inflow aiming at creating significant job opportunity to Ethiopians and fully exploits the untapped natural resources subsequently bringing about technology transfer and capital.  This regard, the Commission further noted that Ethiopia is becoming one of the best investment destinations of Asiatic and European investors particularly owing to its inexpensive labor cost and political stability in the volatile East African region.

Ethiopia being a home of over 90 million people is also a good market option for Asian as well as European investors. Several products made in Ethiopia are penetrating the USA market through the AGOA (African Growth and Opportunity Act of the US government) and European markets through EBA (Everything But Arms) initiative of the EU. As member of COMESA (Common Market for Eastern and Southern Africa) Ethiopian products are benefitting the preferential tariff agreed by economic consortium which consists of 19 countries accommodating over 430 million people.

Source: Ethiopian Investment commission public relation Directorate

United Nations Economic Commission for Africa (UNECA) green economy study has given attention for Ethiopian experience on climate resilient economic strategy.

The study also looks at its alignment with the national Growth and Transformation Plan (GTP) of the country.

In fact UNECA is conducting a study to exploring the linkage between green economy policies and strategies with inclusive economy of 10 African countries including Ethiopia.


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Wyndham Hotel Group, the owner of the Days Inn and Ramada chains, will open its first hotel in Ethiopia in the first half of next year as it expands the business across the continent.

The unit of U.S.-based Wyndham Worldwide Corp. (WYN) signed a management agreement with local construction company ADM Business, part of Get-AS International, Bani Haddad, vice president for the Middle East and Africa, told reporters today Addis Ababa. The 136-room Ramada Addis is on the main road to Bole International Airport in Africa’s fastest-growing economy, he said.


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Horizon Plantations Ethiopia Plc, majority-owned by Saudi billionaire Mohamed al-Amoudi, plans to almost double annual revenue within three years by investing at least $500 million in coffee and orange projects.

The agriculture company will train workers, improve roads and replace washing units at the Limmu and Bebeka coffee plantations, which together have over 18,000 hectares (44,479 acres) under coffee, General Operations Director Kemal Mohammed said in a Sept. 17 interview in Addis Ababa, Ethiopia’s capital.


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