ato fisumForeign Direct Investment to the country remains the same despite the declaration of the State of Emergency. The Ethiopian Investment commission Commissioner Fitsum Arega told Afro FM that the government’s commitment restored confidence among foreign investors.

Over the recent years Ethiopia has become highly attractive for foreign investment, especially among countries such as China, India, Turkey and Sudan. These countries remain among the top three investors in the country.When speaking to Afro FM the commissioner said these countries have continued to invest in Ethiopia as countries like China have gone through similar stage during their developmental stage.
Fitsum also told Afro FM that interventions by the government restored the confidence of investors in the face of the recent security challenges.

“Yes there were continued investments from China from Europe so the investment, the image the perception the country had before the attack and after the attack. The perception is a bit obscure, but after the engagement, after they have seen the government is delivery what it promised in terms of security their commitment to continue their engagement has increased. To be Frank the security challenge affected investment, affected tourism, but when the government intervened, by state of emergency and continuous engagement with investors and we have had meeting with UK, Turkish and China’s companies and we also have regular quarterly meeting were we address different challenges they may face during their implementation or operation phases.”  

A couple of new investors Afro FM spoke to said they have decided to continue their investment in the capital.
China ranks top in foreign direct investment in Ethiopia. Chinese projects currently stand at 207 leading India by over 152 more projects. China is followed by India and Sudan in 2nd and 3rd place with the highest foreign direct investment according to the information secured from the Public Relations Directorate.

Companies affectedAddis Ababa, November 4, 2016 (FBC) –Companies which were affected by the unrest occurred in some areas of the country are returning back to business, according to the Ethiopian Investment Commission (EIC).
They began production within a short period of time after the unrest as a result of the consultation held with pertinent government institutions, investors and ambassadors of countries where the investors came from, said Teka Gebreyesus, Deputy Commissioner of the Commission.
Companies which engaged in horticulture development in Bahir Dar town and Oromia Regional State have started exporting their products to the global market, he noted.
Moreover, manufacturing companies whose machinery damaged partially and fully during the unrest have been importing machines to replace the damaged ones, he said.
Since the unrest is temporary and doesn’t reflect the image of the country, memoranda of understanding were signed with companies from America, China and other nations. These companies are preparing to enter into production, he said.
The Deputy Commissioner further said the government is organizing symposiums, workshops and business conferences to promote Ethiopia’s investment opportunities and attract additional new investors.
The government will make awareness raising campaign to sensitize the public on the significance of foreign direct investment (FDI) in terms of job creation, generating foreign currency and promoting technology transfer so that they will give protection for investment areas, he said.

Source FBC

http://www.fanabc.com/english/index.php/news/item/7301-companies-affected-by-recent-violence-return-back-to-business

 

South KoreaAddis Ababa, October 31, 2016 (FBC) –The government of South Korea is to provide a 50 million US dollars support for Ethiopia’s industrial parks development efforts.

 This was revealed at the 5th Korea Africa Economic Cooperation (KOAFEC) meeting took place in Seoul under the title "Transforming Africa's Agriculture through industrialization and Inclusive Finance"

ministers and vice ministers from 41 African countries and officials from regional institutions including the African Development Bank (AfDB) took part at the gathering held from Monday to Thursday last week.

 The meeting was aimed at sharing South Korea's experience on economic development and bolstering enhancing cooperation with the developing continent.

 South Korea's trade with African countries reached 18.2 billion US dollars in 2015, with its investment into the region totaling 146 million US dollars last year.

 Source: FBC

http://www.fanabc.com/english/index.php/news/item/7271-s-korea-to-provide-$50mln-for-ethiopia%E2%80%99s-industrial-parks-dev%E2%80%99t  

Integrated agro industrial parksThe Ministry of Industry (MoI) has disclosed a government plan to launch the construction of agro-industrial parks nationwide with the task shouldered by regional governments.
The Ministry said preparation has been finalized to launch the construction in four pilot regions while 17 corridors were identified nationally.
The parks would play a crucial role in accelerating rural transformation and bringing agricultural transformation, according to Dr. Mebrahtu Meles, State Minister of Industry.
The new plan is believed to minimize Addis Ababa's dominant role in attracting investment and disperse investment activities to other regions across the nation, hence realizing fair distribution in all the regions.
Design works have been finalized for the construction of Integrated Agro-Industrial Parks (IAIP) in Amhara, Tigray and Southern Nations Nationalities and People's regions, with the Oromia state to follow suit.
According to the state minister, the parks are full-fledged and investors are expected to construct their own standard shades in the parks based on their interest.
The government will work to the maximum to facilitate horizontal infrastructure and external connectivity that would help investors engage in the industrial parks.
Institutions Cooperation Expert at UNIDO, Tsigabu Tega, on his part said various development partners are interested to provide support for the construction of the parks.
The government has been hugely investing on construction of industrial parks since the first Growth and Transformation Plan (GTP-1) period.
So far, the federal government inaugurated the Bole Lemi Phase I and Hawassa Industrial Parks while construction of similar parks is underway in Mekele, Kombolcha, Adama and Diredawa towns.
Ethiopia has a huge potential in agriculture which needs to be commercialized


Source: ENA

http://www.ena.gov.et/en/index.php/economy/item/2218-agro-industrial-parks-planned-nationwide 

made EthiopiaAddis Ababa, October 21, 2016 (FBC) - All is not what it seems in the Ethiopian capital. Had you failed to notice the small huddle of men wearing hard hats discussing ‘lean manufacturing,’ you might have mistaken last month’s shoe factory tour for a religious festival.

Dressed in their finest Abyssinian gowns, a group of Ethiopian women greeted guests with rose petals as frankincense wafted through the air inside a building of immense proportions. Surrounded by local dignitaries in sharp suits watching the hostess perform an elegant coffee ritual, the delegation of casually-dressed Americans looked understandably self-conscious.

“Gosh,” one murmured to another, as he was given a slice of ceremonial Ambasha bread. “Sure wasn’t expecting this.”

For Gashaw Debebe, chairman of the factory where the Americans were being entertained, this was an opportunity to pull out all the stops and show off his new 20,000-square-metre facility.

“When it’s completed in two months, it’s going to produce 10,000 pairs of shoes per day and 70 percent of that will be export,” declared Debebe, whose company Anbessa has manufactured shoes for the likes of J Crew and Harbor Footwear Group from its old premises in central Addis Ababa, Ethiopia.

“We’re investing now to improve quality and productivity. We’re also bringing in expats for expertise and to train staff about better compliance and all the new technology we’re bringing in.”

More than a bargain

The reason international production managers from brands including Calvin Klein, Aldo and Under Armour gathered last month in Addis Ababa was to attend a footwear business summit organised by Made by Ethiopia. Held in conjunction with Enterprise Partners and the Footwear Distributors and Retailers of America (FDRA), the summit also provided brand reps with a peek inside factories like Anbessa.

Read more at:

 http://www.fanabc.com/english/index.php/news/item/7191-made-in-ethiopia-fashion-s-next-sourcing-hub