women in leadershipA program that is aimed to create a pipeline of female leaders that will help advance and achieve Ethiopia’s green growth and green manufacturing goals and increasing the involvement and influence of women managers named; ‘Women in Leadership ‘training program facilitated in collaboration with MoTI, IPDC, EIC in partnership with US forest and GIZ eth launched today at Sheraton Addis with the presence higher officials and stakeholders of the program. 45 women trainees from MoTI, IPDC and EIC are are selected to start their training starting from Jan 25, 2021.

Source: EIC PR Directorate

 

EIC Launched FDI Tracking ToolA successful webinar session was conducted with the aim of inaugurating the FDI Tracking tool, a web-based platform developed by the Ethiopian investment commission (EIC) in collaboration with the partnership for investment and growth in Africa (PIGA) project, Part of Manufacturing Africa (MA), a flagship program of UK foreign, commonwealth and development office.

The tracking tool is believed will take EIC a step closer to becoming a modern and digital-driven institution among other functionalities. The tool will help track investment performance along with key indicators, store information on actual investment inflows, and enable analysis and reporting of investment data in any desired format.

In the webinar session concerned staff of EIC including the deputy commissioner and collaborative partners ITC (International Trade Centre ), UK aid, PIGA, and other invited bodies participated and it is believed that the FDI Tracking tool helps EIC to mitigate less or poor access to quality investment data challenges and will create a modern and digital-driven institution.

Source: EIC PR Directorate

 

Dilla Industrial Park Construction ConcludesThe construction of Dilla Industrial Park, located in Southern Nations, Nationalities & People's Regional State (SNNPR), has been completed. The Park, whose construction commenced two years ago, lies on 20ha of land and consumed 400 million Br.

Dilla Industrial Park, which is expected to create thousands of jobs, is ready for investors and associations engaged in coffee processing, animal husbandry, fruit, and honey production, according to Birru Wolde, CEO of the region's Industrial Park Development Corporation.

The regional Industrial Park Development Corporation is also constructing another park in the region, Yirgachefe Industrial Park, which is reaching its completion.

Currently, there are 24 industrial parks in the country; seven of these parks are privately owned, while four are agro-industrial parks developed by regional governments.

Source: Addis Fortune News Paper

 

 

Chinese Companies to Source Ethiopian CoffeeTwo Chinese Companies signed an agreement to purchase Ethiopian coffee beans earlier this week. The companies pledged to buy 2,000tn of coffee annually between 2021 and 2023, according to the agreement.

The Strategic Cooperation Framework Agreement, signed at the Ethiopian embassy in Beijing, was attended by representatives of the two companies: Jinyi Guo, (Ph.D.), chairperson and CEO of Luckin Coffee; Jerrity Chen, Regional CEO of Louis Dreyfus Company for North Asia; and Teshome Toga, Ethiopian ambassador to China.

Luckin, a Chinese coffee company and coffeehouse chain, was founded in Beijing in 2017, while Louis Dreyfus Company (LDC) is a global merchant and processor of agricultural goods established in 1851. Just last month, Luckin had agreed to a 180-million-dollar settlement after defrauding investors by the United States Securities & Exchange Commission. Its stock was subsequently delisted from the Nasdaq Stock Market.

Source: Addis Fortune Newspaper

 

Commissioner Ms. Lelise NemeAs we approach the end of 2020, I wish to take this opportunity to wish you a Happy New Year and the very best for 2021. In many ways, the year 2020 has been a memorable year for all the wrong reasons. What started as a promising year, especially for Ethiopia, and the beginning of a new decade turned very quickly into one of the most challenging years that the world has seen in recent history. Countries across regions and the world at large, regardless of size and level of development, were forced to implement partial and total lockdown of their economies with devastating consequences on business, employment and investment flows. No-one predicted the Covid-19 pandemic and the economic crisis that followed. Therefore, no country was prepared for it.

Ethiopia was among the first set of countries that took bold and decisive actions to increase awareness of Covid-19 pandemic among the population and introduce effective measures to control the spread of the virus in the country. Thanks largely to the farsighted and astuteness of the Ethiopian leadership, these measures were implemented swiftly and effectively.

In addition to increasing facilities in the health sector, the Government undertook a series of policy measures to prevent mass unemployment, minimize hardship among low-income households and support the business community, both small and large.During the early days of the pandemic, the Council of Ministers announced several tax-related measures and an employee pension payment scheme covering the first few months of the year. The National Bank of Ethiopia also made over 15bn ETB available to private banks in the form of liquidity injection to enable them to provide debt relief and additional loans to their customers. Moreover, banks were instructed to allocate foreign currency to importers and manufacturers engaged in the production and supply of products used to control Covid-19.

For more read Commissioner Lelise Neme's Message for the new year