Ethiopian New Year 2013The New Year is the new beginning of new ventures and new projects. Ethiopia is among the few fastest growing economies in the world, and thus the country has now become a preferred foreign direct investment (FDI) destination in Africa.

Ethiopia takes the leading position in East Africa and ranked 5th on the continent in attracting foreign direct investment. It is crystal clear that Ethiopia has a wide variety of untapped resources and huge investment potentials in manufacturing, agriculture, agro-industry, mining, tourism, and other service sectors.

With a view to attracting more foreign direct investment (FDI), state-of-the-art industrial parks have been constructed by the Government and private developers across the country.

In this special celebration of Ethiopian New Year, Ethiopian Investment Commission (EIC) wishes all a very Happy Ethiopian New Year. May the New Year bring you all happiness, peace, and prosperity.

Smart companies invest in Ethiopia!

EIC PR Directorate

Ethio TelecomThe Government of Ethiopia has passed decision to issue licence to two winner international telecom companies that will hold 40 percent stakes of in Ethio Telecom.

While 40 percent of the stakes are to be transferred to two winning companies, 5 percent will be sold to Ethiopian nationals, it was learned.

Stakeholders have held discussion today with PM Abiy Ahmed to get input on the privatization process of Ethio Telecom.

Presenting a discussion paper at the workshop, Finance State Minister Eyob Tekalign said lots of work were carried out to improve the telecom sector which is part of the country`s homegrown economic reform.

Winner companies that take up the 40 percent share will be determined by a bid to be floated soon, he added.

Next, 5 percent stakes are going to be sold to Ethiopian nations and the remaining 55 percent will remain in the hands of Ethio Telecom.

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Hawassa Textile to Industrial VillageThe former Hawassa textile factory is set to become an industrial village with 2 billion birr additional investment.

The factory today launched an expansion project to facilitate its transition to Hawassa textile and industrial park. The project sees construction of 14 sheds.

State Minister of Trade and Industry, Ambassador Misganu Arega, Chief Administrator of Sidama regional state, Desta Ledamo, and other invited guests attended launching ceremony of the project slated for completion within 12 months.

Once the state-of-the-art technologies purchased with 500 million birr are installed, the Hawassa textile and industrial park will start production after 3 months.

The industrial park exports 90% of its product overseas and is expected to create jobs for 35,000 people when it fully goes operational.

The former state-owned Hawassa textile factory was privatized 3 years ago.

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Ethiopia Airline NigeriaEthiopian airlines has linked Nigeria to its global network of over 70 destinations from September 7, 2020.

Cities that are open for flights of the Ethiopian Airlines include Toronto, Washington DC, Chicago, Newark, London, Paris, and Manchester.

Flights will commence from Abuja on the 7th and Lagos on the 8th.

Abuja will be served with the Airbus A350 every day while Lagos will be served with B777 Aircraft four times weekly.

During the Lockdown Ethiopian Airlines handled evacuation flights from America on behalf the Nigerian government and also to America for the American government.

The Airline said it will be providing world class services to passengers while respecting the rules and protocols imposed by the countries.

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Ethiopia Airline Bio SecurityEthiopian Airlines Group has completed the construction of the first new airport terminal opened after the Covid-19 pandemic hit.

The new terminal at Addis Ababa Bole International Airport features sixty check-in counters, thirty self-check-in kiosks, sixteen immigration counters and sixteen central security screening areas for departing passengers which “are the new faces of the airport”, according to Ethiopian.

Ethiopian Airlines CEO Tewolde GebreMatiam said: “I am very pleased to witness the realization of a brand-new terminal at our Hub.

“While Addis Ababa Bole International Airport has overtaken Dubai to become the largest gateway to Africa last year, the new terminal will play a key role in cementing that position.

“What makes the new terminal unique is that it’s the first terminal in the world to be completed after Covid-19. It was designed, not re-purposed, with Bio safety and Bio security in mind.

“I’m sure our esteemed customers will highly appreciate that.”

The new terminal features three contact gates for wide body aircraft, along with remote contact gates.