PM Abiy Ahmed inaugurates Bahir Dar Industrial ParkEthiopian Prime Minister Abiy Ahmed inaugurates Bahir Dar Industrial Park built at 75 ha of land comprising eight factory sheds.

The inauguration ceremony has been attended by the Ethiopian Investment Commission Commissioner, Lelise Neme, and high government officials including Minister of Foreign Affairs, Gedu Andargachew, among others. All the sheds are fully occupied and will go operational soon, the Prime Minister said.

“Enhancing the manufacturing sector is one of the key pillars of our Home Grown Economic Reform unveiled in 2019.” the premier stressed, adding “Hence the expansion of such parks will facilitate our industrial development goals together with the enabling environment we are working to create for investments.”

The industrial park can serve as a recreational and research site for students and academics in the area in addition to its significance as a job creation hub.

Prime Minister Abiy said the Country has completed the construction of all thirteen industrial parks which were under construction across the nation. The premier underlined that the industrial parks will be integrated with agro-processing in a view to modernizing the agricultural sector.

Bahir Dar Industrial park has finalized screening works to create jobs for more than 4,000 individuals and will engage 10,000 more manpower when it goes fully operational in two shifts.

And, it is expected to double job opportunities when the second phase of its working sheds is completed. People who are displaced from the area due to the development of the park are given priority in the job opportunities, Africa Business Networking reported quoting FBC.

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PM Abiy Visiting Gorgora Tourism Devt ProjectPrime Minister Abiy Ahmed visited today Gorgora, one of the three prospective tourist attractions to be developed under the “Dine for the Nation” initiative. 

The premier had established a national committee that mobilizes funds for the development of the tourist attraction sites in Amhara, Oromia, and Southern Nation Nationality and People’s states.

Gorgora, which is located south of the ancient city Gondar and Lake Tana in the north, was selected from the Amhara region for development. Wonchi, in the Oromia region, with a legacy of once-powerful volcanoes, hot springs, and waterfalls, where a crater lake is “a piece of paradise”; and Koysha, uniquely situated in the green hills and lush forests of the Southern region.

Abiy is accompanied by the Federal and Regional senior government officials. The premier was warmly welcomed by the residents of Gorgora town on arrival.

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Commissioner lelise NemeThe Ethiopian government is setting focus on improving the ease of doing business in Ethiopia to make the country competitive in the international arena, Ethiopian Investment Commission (EIC) said.

Lelise Neme, Ethiopian Investment Commission Commissioner has recently said that over the years, the government has been undertaking various activities to improve the ease of doing business in Ethiopia.

This year, it is one of the top priority areas of the government to create a conducive investment environment.

One of the strategies to improve the ease of doing business is the digitalization of the Commission’s working systems which is well underway, as to her. Secondly, efforts are underway to strengthen relationships with states’ and city administrations’ investment bodies by organizing a series of forums that will help to facilitate investment and ease of doing business nationally, according to the Commissioner.

The government is currently tirelessly working with a view to improving the ease of doing business in the nation focusing mainly on 10 indicators, such as starting business, dealing with construction permit, getting credit, getting electricity, registration property, paying tax, trade across boarder and protecting minority investors, among others, it was learnt.

“As part of this, fifty percent of our work time is spent visiting investment areas and solving their problems on the spot,” she added. “Our goal is not only to attract investment but also to create a favourable investment environment for the investors to become productive and successful.”

In the meantime, she said giant companies in industrial parks have a responsibility to create market and input supply linkage for local, small and medium enterprises.

She also said the Commission is looking into solving the problems of employees working in industrial parks who among others complain about incentive packages. Efforts are underway to solve their main challenges especially shortage of housing in partnership with investors and public-private engagement.

Read More At:-https://africabusinessnetworking.com/ethiopia-sets-focus-on-improving-ease-of-doing-business/>

Foreign Investors Receive Briefing on Dine for Nation ProjectForeign investors are currently receiving a briefing on the ‘Dine for Nation’ project. ‘Dine for Nation’ is a fundraising program to finance Wonchi, Gorgora, and Koysha projects. It aims to raise 3 billion birrs.

Gorgora located in the south of Gondar on the north shore of Lake Tana, in the Amhara region; Wonchi, in the Oromia region, with a legacy of once-powerful volcanoes, hot springs, and waterfalls, where a crater lake is “a piece of paradise”; and Koysha, uniquely situated in the green hills and lush forests of the Southern region.

With the Koysha hydropower plant in progress and the Chebera Churchura National Park in proximity, the new integrated eco-project in Koysha aims to enhance existing endowments and create a service industry and jobs in the area.

On the briefing, Ethiopian officials gave details about the projects, including their importance for tourism and to create job opportunities. The officials on the occasion called on the investors to support the projects. The three projects are expected to create jobs for the local communities, drive tourism, and create service economies.

Read More at https://www.fanabc.com/english/foreign-investors-receive-briefing-on-dine-for-nation-project/

 

 

GoldEthiopian gold exports surged after the central bank offered higher prices for the metal in a bid to curb smuggling and as part of wider efforts to spur investment in mining.

Ethiopia’s gold industry is currently dominated by small-scale artisanal miners, but Newmont Corp. and Australia’s Allied Gold Corp. are among the companies exploring for the precious metal in the Horn of Africa nation.

The government hopes that cleaning up informal mining by channeling gold sales through the central bank is a first step to making the country more attractive to investors.

Harry Anagnostaras, executive chairman of London-listed Kefi Gold and Copper Plc, which is developing the Tulu Kapi mine in western Ethiopia, said  “People are starting to come in and it’s because the government is starting to transform itself very deliberately and openly from a sort of reluctant bride to a welcoming host and compliance checker.”

Official gold shipments in July and August totaled 700 kilograms (24,700 ounces), a more than fourfold increase from the year-earlier period. Exports could climb further after the central bank boosted the prices it offers by more than the increase in spot gold since the beginning of June.

Ethiopia’s approach is generating interest from miners, according to Anagnostaras, who is also chairman of a 25-member industry group in the country, FBC reported quoting Bloomberg.

The government aims to more than double the contribution of mining to 10% of gross domestic product over the next decade.

Source: BNN Bloomberg

Source:- https://www.fanabc.com/english/ethiopia-gold-exports-surge-after-as-measures-tightened-to-tackle-smuggling/