Investment Commission Registers Projects worth 18.45b Br for 2013/14
The Ethiopian Investment Commission (EIC) has announced that 226 investment projects have registered 18.45 billion Br in 2013/2014 fiscal year, which exceeds last year’s performance by 11 billion Br. From all the projects, 125 with the total capital of 14 billion Br are registered in the manufacturing sector. As per the statement, 76.5pc of projects registered in the manufacturing sector are among the transformed projects to production and service delivery in the sector. The Commission has also conducted foreign direct capital registration of 412.02 million dollar in the fiscal year. In addition the commission has started ‘one stop’ investment centre to enhance investment flow to the country.
Publication: The Ethiopian Herald, August 16, 2014
Oromia Plans to Create 1.5m New Employment Opportunities this Year
Oromia National Regional State Micro Enterprises Development Agency (MEDA) plans to create 1.5 million jobs in 2014/15 fiscal year. The jobs are planned to be created in the manufacturing, construction, service, animal fattening, bee keeping and agriculture sectors in the region. The agency has also stated that 1.2 million jobs were created in the last fiscal year. It is stated that the agency was pursuing its GTP job creation goal of 5.3 million, and so far the performance is consistent with the plan.
Publication: The Ethiopian Herald, August 14, 2014
208m Br Project to Provide Solar Energy for 241,000 Ethiopians
Ministry of Water, Irrigation and Energy (MoWIE) announces 241,000 people are to get access to solar electric power supply in Ethiopia. The project is planned to be implemented and finalized in 2014/15 fiscal year. It is planned to install 40,223 solar panels for households, schools, health centers and other social service sectors. The project is expected to cost about 208 million Br.
Publication: Addis Zemen, August 18, 2014.
ERA Repairs 1,48Km Roads in 2013/14
The Ethiopian Roads Authority (ERA) has managed to repair 1,480Km roads in the 2013/14 fiscal year. The authority has released its annual report on Wednesday, August 13, 2014. The report indicated the performance in the sector, especially in terms of expansion and accessibility, is good but quality and repair demands cooperation and action of all stockholders. In addition, the report indicated performance of foreign contractors is better than local contractor each standing at 95pc and 85pc performance respectively.
Publication: The Ethiopian Herald, August 14, 2014.
DOW Chemicals to Produce Teff in Ethiopia
A US-based chemical company, DOW, expressed interest to produce teff, a staple food crop, in Ethiopia. The annual sale of the Company worldwide is 57 billion dollar in 2013 employing 53,000 people. The announcement came from Ross McLean, Sub-Saharan African president of the Company, who has met with President Mulatu Teshome (PhD). Mulatu expressed his hope about the coming in to effect of DOW’s investment in the agricultural sector in Ethiopia.
Publication: The Ethiopian Herald, August 16, 2014.
Japan, Ethiopia Seats for Industrial Dialogue
The Japanese embassy in Addis Abeba announces that the 14th Ethio-Japan Industrial Dialogue took place in Addis Abeba.
The dialogue received high level attendant from the Ethiopian side headed by Neway Gebreab, economic advisor to the Prime Minister and, ministers and heads of agencies from economic development related ministries and agencies of Ethiopia. In the dialogue issues like Kaizen in the second phase of the Growth & Transformation Plan (GTP II), scaling up industrial capacity, human resource development and labor productivity are discussed. The performance of Kaizen initiative and the technical assistance project by the Japan International Cooperation Agency (JICA) are also reviewed in the dialogue.
Publication: The Ethiopian Herald, August 15, 2014.
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