Happy New Year 2020The 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.

According to the recent UNCTAD report, the country 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 various sectors such as manufacturing (textile & garment, leather & leather products, pharmaceuticals), agriculture, agro-industry, mining, tourism and other service areas.

With a view to attracting more FDI, the construction and expansion of state-of-the-art industrial parks have also been carried out by the Government and private developers across the country.

As 2019 draws to a close and with the start of a new decade on the horizon, the Ethiopian Investment Commission (EIC) wishes all a very Happy New Year. May the New Year bring you all happiness, peace, and prosperity. Wishing you a joyous 2020!

Smart companies invest in Ethiopia!!

EIC Public Relations Directorate

High Level Ethiopian Sudanese Officials Discuss on Port ServiceMinister of Transport, Dagmawit Moges, held talks with Sudanese Undersecretary of the Ministry of Infrastructure, Omar Ahmed Mohammed and Director General of Sudanese Sea Ports Corporation, Captain Onour Mussa, on issues of port service and utilization.

Accordingly, Sea Port Corporation of Sudan will provide all the necessary support for Ethiopia to use the Ports of Sudan for its import-export commodities.

Moreover, the corporation will offer back-office for Ethiopian Shipping and Logistics Service Enterprise in order to facilitate the import of fertilizer which is expected to be delivered shortly.

The two parties also agreed to establish a technical committee to smooth the progress of the port service, it was indicated.

The agreement includes implementing the 2003 pledge by the government of Sudan to offer 875,000 square meter area of land close to Port Sudan for Ethiopian logistics service, ENA reported.

Source:- https://www.ena.et/en/?p=11575

A call for enhanced public private partnership to boost Africas infrastructureThe ‘dark continent’ narrative has changed. Africa is growing. Today, five out of the 20 fastest growing global economies are found in Africa. However, lack of adequate infrastructure is hindering economic growth.

With the view of addressing Africa’s infrastructure challenges, the African Union Commission (AUC) launched Program for Infrastructure Development in Africa (PIDA) in 2012. PIDA is a continental infrastructure development initiative formulated by the AUC in collaboration with its partners the UNECA, NEPAD and the AfDB.

PIDA is a program dedicated to facilitating continental integration through improved regional infrastructure in the areas of transport, energy, transboundary water and ICT. PIDA was approved by the AU assembly during the 18th ordinary session of the AU in Addis Ababa, which was held from January 29-30, 2012.

The AUC launched the PIDA Week in 2015 as a platform to bring together key stakeholders involved in the implementation of the PIDA program, to take stock of the progress and identify ways to continue advance implementation.

The fifth edition of PIDA Week was held in Cairo Egypt from November 25-29 under the theme “Positioning Africa to deliver on Agenda 2063 and economic integration through multi-sectoral approaches to infrastructure development.”

More than 700 key infrastructure players gathered at the Grand Nile Tower Hotel and deliberated on the progress on PIDA program.

The PIDA Priority Action Plan (PIDA-PAP) which extends to 2020 comprises 51 programs and projects divided into 433 projects covering transport, energy, ICT and transboundary water sectors.      

Read more at :- https://africabusinessnetworking.com/a-call-for-enhanced-public-private-partnership-to-boost-africas-infrastructure/

2020 Historic Year for China and Ethiopia Chinas AmbassadorChina’s Ambassador to Ethiopia Tan Jian said that 2020 would be a historic year for both China and Ethiopia.

Briefing journalists, China’s Ambassador to Ethiopia Tian Jian said China wants to further strengthen its relations in multifaceted spheres, including hi-tech, agricultural transformation, trade and tourism.

The ambassador stated that his country will continue to solidify its support to transform the agriculture, livestock, trade and tourism sectors in the upcoming year, ENA reported.

Speaking about the potential and prospect of the cooperation of the countries, Ambassador Jian said: “I used to say “the sky is the limit”; now with the successful launching of the Ethiopian satellite, I would say “the space is the limit.”

According to the ambassador, the bilateral pragmatic cooperation in the economic front has achieved remarkable progress. “China has consolidated its position as Ethiopia’s largest trading partner and source of investment,” he noted.

Ethiopia approved over 140 FDI projects from China from January to October 2019, registering over 12 percent year-on-year increase and accounting 60 percent of Ethiopia’s newly-approved FDI.

On Chinese engagement in business, the ambassador said: Chinese investors have engaged in various sectors like textile, pharmaceuticals, building materials, steel, ceramics and bamboo paper pulp, among others.

Besides, “Chinese companies are working on the oil and gas project in Somali region, on the Aviation Industry City Project in Bishoftu of Oromia region, on the Addis Ababa Bole International Airport Expansion Project, Addis Ababa Power Network Rehabilitation and Upgrading Project, and Addis Tomorrow Project, to name few.”

Source:- https://www.ena.et/en/?p=11532

Dr Abiy Nation BrandingThe Ethiopian Investment Commission would like to forward its warmest congratulations for PM Abiy Ahmed on wining the Nobel Prize.

Nation branding is one of the major investment promotion tools that Ethiopia utilizes in an effort to attract foreign direct investment (FDI).

Ethiopia, being represented on world stage by our PM, creates a positive impact in attracting foreign direct investment and tourism.

You make us proud!

Thank you, your excellency.