Kunshan Investors to Build Industrial Park in Dire Dawa With Over Half A Billion US DollarsInvestors from Kunshan, a city in Jiangsu province of China, are set to build an industrial park dedicated to textile production in the city of Dire Dawa with over half a billion US dollars.

A delegation led by Du Xiaogang, Mayor of Kunshan, yesterday visited Dire Dawa, about 500km east of the Ethiopian capital, Addis Ababa.

Speaking after the visit, the Mayor said investors from the city have finalized preparations to establish a textile industrial park within the coming two years, which according to him testifies the strong bilateral ties between the two countries.

China is ready to share its experience to Ethiopia in order to make industrial parks in the country more productive and successful, he said.

About 30 professional drawn from all industrial parks are currently receiving a 10-day training on industrial park management at a training center built in Dire Dawa.

Kedir Juhar, head of Dire Dawa trade, industry and investment bureau, said the city administration would provide all needed support for the establishment of the industrial park.

See More at: https://fanabc.com/english/2019/07/kunshan-investors-to-build-industrial-park-in-dire-dawa-with-half-a-billion-us-dollars/

 

Coca Cola to Invest 300 Million in EthiopiaCoca Cola is planning to set up a $ 70 million new factory in Ethiopia as it celebrates its 60th anniversary in the country. According to Burno Pietracci, general manager of the East and Central African Franchise, the Coca Cola Company has decided to expand its outlay and promote Ethiopia as a destination for other potential foreign investors.

The beverage firm and its shareholders are also planning to invest USD 300 million in the country in the coming five years. The new plant will have a manufacturing capacity of 70,000 cases per day.

The company broke ground on the new plant on June 20. Located in the town of Sebeta, 25 kilometers from Addis Ababa, it will be the biggest bottler and the fourth of its kind in Ethiopia once it is finalized early next year.

The fifth plant is planned to be set up in Hawassa, capital of the Southern Regional State.

The first Coca-Cola bottling plant was established in Addis Ababa in 1959 with a capacity of bottling 36,000 plastic bottles (PET) per hour, while the second was installed in Dire Dawa in 1965.

See More at: https://ethiopianembassy.be/2019/06/28/coca-cola-to-invest-300-million-and-set-up-a-new-factory-in-ethiopia/

 

EU to Provide 40b in Grants to Help Create Jobs in AfricaThe European Union Commission fully supports the African Continental Free Trade Agreement (AfCFTA) and is proposing a 40 billion Euro package to attract investments that would create at least 10 million jobs in Africa.

This was revealed by Ambassador Ranieri Sabatucci, the EU Ambassador to the African Union, in an opening address to a two-day Horn of Africa AfCFTA forum focusing on the pharmaceutical industry.

“As was highlighted by the EU Commission President, Juncker, in his state of the union speech in September last year, referring to the AfCFTA, he expressed the wish that the long term perspective is to create a comprehensive continent to continent free trade agreement between EU and Africa,” he said.

He said to prepare for this, economic partnership agreements, free trade agreements, “including the deep and comprehensive free trade areas and others in the countries north of Africa and other trade issues with the EU should be exploited to the greatest extent as building blocks to the benefit of the AfCFTA”.

The ambition is to further increase African exports and to attract investment, including to manufacturing and processing sectors and to encourage the creation of regional value chains through flexible rules of origin, Mr. Sabatucci.

Read More at: https://fanabc.com/english/2019/06/horn-of-africa-trade-forum-on-regions-pharmaceutical-industry-opens-in-addis-ababa/

 

Ethiopias Economy Projected to Grow at 9.2 in 201819Prime Minister Dr Abiy Ahmed said Ethiopia’s economy is expected to grow at 9.2 % in the 2011 Ethiopian fiscal year (2018/19). The Prime Minister made the remark while presenting his government’s 2018/19 performance report to the House of People’s Representatives.

The economy grew at 7.7 % in 2010 (2017/18) as well as at 8.8% both in 2008 (2015/16) and in 2009 (2016/17), he told the Parliament.

In his report, the Premier also touched on the measures taken during the last one year to widen up the political space, ensure rule of law and rehabilitate displaced community members, among others.

The Prime Minister also briefed the members of the parliament on the various institutional reforms launched in the past year.

Security organs, justice sector, National Electoral Board of Ethiopia (NEBE), Human Rights Commission, National Intelligence Security Service (NISS), Information Network Security Agency (INSA), Federal Police and Prison Administration are among areas where the reform initiative is being implemented.

Read More at: https://fanabc.com/english/2019/07/ethiopias-economy-projected-to-grow-at-9-2-in-2018-19/

 

Orange Considers Entering Ethiopias Telecoms MarketOrange, France’s number one telecoms operator, considers entering Ethiopia’s telecoms market. Ethiopia is among countries whose telecoms industry remains in the hands of the government.

Orange is one of the leading contenders seeking to benefit from the end of state-controlled Ethio Telecom’s monopoly, pushed by Prime Minister Dr Abiy Ahmed.

Sources told Reuters earlier this month that the government aimed to award telecom licenses by the end of 2019, with the new operators expected to launch services next year.

Ethiopia’s Minister of Finance, Ahmed Shide, recently said that Ethio telecom will be split into an infrastructure provider and telecom services provider before it is privatized.

According to Reuters, Africa and the Middle East is Orange’s fastest-growing region for the telecoms group, which controls 17 operators on the continent.

Read More at: https://fanabc.com/english/2019/06/orange-considers-entering-ethiopias-telecoms-market/