Gold Detector Devices Assembly Plant Goes Operational in EthiopiaGold detector devices assembly plant which helps artisans to explore gold has been inaugurated here in Addis Ababa today.

The plant owned by the Dubai based Al Hilali Group assembles the gold detector devices by partnering with Minelab Metal Detectors of Australia.

“The devices help artisan gold miners to explore wider areas in a modern way,” Mineral, Petroleum and Bio-fuel Corporation (EMPBC) CEO Mulugeta Seid said.

According to him, the use of these technologies by artisan miners would rescue the sharply falling earnings from gold in the past five years.

The corporation will supply the detectors to the youth with affordable service payments to create employment.

The assembled devices will be tested in real gold fields, the CEO added.

Minelab Metal Detectors President, Peter Charlesworth said the devices detect small nuggets and fine-threaded specimen gold in mineralized soils about a meter deeper.

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Ethiopia Amends Investment Law to Encourage Private SectorEthiopian Investment Commission (EIC) said that the Government of Ethiopia has been amending the investment law in order to improve the investment and business c

Ethiopian Investment Commission (EIC) said that the Government of Ethiopia has been amending the investment law in order to improve the investment and business climate and enhance the role of the private sector.

While speaking at Ethio-Investment Exhibition and Forum held in Addis Ababa, Ethiopian Investment Deputy Commissioner Temesgen Tilaye said the investment law has been amended with a view to enhancing business and investment in the country.

The government has been tirelessly working to improve the existing investment climate of the country and part of this effort EIC in collaboration with World Bank Group, International Finance Corporation (IFC), and International Trade Centre (ITC) has recently developed an Online Investment Service Delivery System and Chinese Language Web-portal.

According to him, the systems would help to provide efficient, effective and reliable investment services for investors regardless of geographical locations as well as language barriers.

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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.

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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.

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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.

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